Anil Ambani plans Rs 5,000-crore naval facility investment in Andhra Pradesh

New Delhi: Reliance Defence Limited, Anil Ambani’s group company plans to set up a new shipyard on the eastern coast of India to build nuclear vessels and aircraft carriers.

The Economic Times reported that the company has set aside an initial investment of Rs 5000 crore for the ambitious project in Andhra Pradesh.

The report added that the greenfield facility – planned to be set up adjacent to a strategic Naval base at Rambilli that will house Indian Navy nuclear submarines and aircraft carriers in the future.

Ambani said that the facility would complement its existing facility at Pipavav in Gujarat with a focus on building strategic assets.

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Source:zeenews