Reliance Defence Ltd and Abu Dhabi Ship Building signs MoU [ Current Affairs ]


About Reliance Defence: Reliance Industries is an Indian multinational company. It’s headquarter is in Mumbai, Maharashtra, India. Reliance is involved in businesses across India like energy, petrochemicals, textiles, natural resources, retail and telecommunications.

  • It is the second largest company in India as measured by revenue.
  • First largest company measured by revenue is the government - controlled Indian Oil Corporation.
  • This is ranked as 114th on the Fortune Global 500 list of the world’s biggest corporations in 2014.

About the agreement:

  • Reliance Defence Ltd led by Anil Ambani has signed MoU with Abu Dhabi Ship Building to set up a strategic partnership for construction of naval ships.
  • In this agreement, RDL will be the majority partner with 51 per cent stake and ADSB will have 49 per cent of stake.

About Abu Dhabi Ship Building

  • ADSB is working for construction, repair and refit services for naval, military and commercial vessels in the GCC region.
  • It was established in 1996.
  • It’s headquarter is in Abu Dhabi.

- Published on: September 8, 2015