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Home / News / Business News / R-Infra will participate in bullet train project, says Anil Ambani
  • Business

    R-Infra will participate in bullet train project, says Anil Ambani

    Anish Chakraborty
    Written by
    Anish Chakraborty
    Mail
    Last updated on Sep 28, 2017, 03:16 pm
    R-Infra will participate in bullet train project, says Anil Ambani
    Credits:
  • At Reliance Infrastructure's 88th AGM, Reliance Group chairman Anil Ambani said that R-Infra's arm Reliance Naval and Engineering will soon come out with a rights issue.

    The firm is focusing more towards the defense vertical now, expecting rapid growth and demand. Moreover, R-Infra has partnered up with Japanese firms via JVs to participate in India's Rs. 1 lakh crore bullet train project.

    Here's more.

  • In this article
    Defense is a priority now Best suited to address demands Learning from the best Joint ventures with Japanese firms Mumbai-Ahmedabad bullet train project Japan to provide loans to meet 80% of project cost InvIT gets delayed again
  • Defense

    Defense is a priority now

    Defense is a priority now
  • Anil Ambani said that the Reliance Group is invested in the defense sector despite stiff competition. India currently imports 90% of its defense requirements, therefore, there is a lot of scope.

    He mentioned, "Our defense vertical Reliance Naval & Engineering will soon come out with a rights issue which will help promoters to increase stake in the company by 5 percentage points to 36%."

  • Ambani

    Best suited to address demands

    Best suited to address demands
  • Reiterating R-Infra's urge to make headway in the defense sector, Ambani said that with the acquisition of the Pipavav Shipyard, his firm has become one of the two firms that are strategically positioned to participate in building Indian submarines.

    It is now eyeing Centre's Rs. 50,000 crore contract for building six submarines in order to become India's first submarine building private sector firm.

  • RNEL

    Learning from the best

    Learning from the best
  • Ambani mentioned that Reliance Naval & Engineering (RNEL) will also engage with world leaders to gain a better insight into the defense business.

    Also, RNEL has entered into a JV with Daher, which supplies composite material to Boeing and Airbus. "Daher will be moving all their facilities to India and India will be an exporter to Boeing and Airbus," Ambani said.

  • JV

    Joint ventures with Japanese firms

    Joint ventures with Japanese firms
  • R-Infra will also work alongside the Japanese to build India's first bullet train.

    Ambani said, "We are deeply engaged and involved with a number of Japanese companies through joint ventures and we will participate in this very ambitious Rs 1 lakh crore bullet train project."

    R-Infra is also committed to being an Engineering, Procurement, and Construction (EPC) leader, he added.

  • Train

    Mumbai-Ahmedabad bullet train project

    Mumbai-Ahmedabad bullet train project
    Credits:
  • The Mumbai-Ahmedabad bullet train will have an average speed of 320kmph and a maximum speed of 350kmph. Apart from the underground tunnel, 468km will be elevated and 13km will be on ground.

    There will be 12 stations: Bandra Kurla Complex, Boisar, Thane, Bilimora, Virar, Bharuch, Vapi, Surat, Ahmedabad, Vadodara, Anand and Sabarmati. Though fares haven't been decided yet, a Mumbai-Ahmedabad journey could cost Rs. 2,700-3,000.

  • Japan

    Japan to provide loans to meet 80% of project cost

    Japan to provide loans to meet 80% of project cost
    Credits:
  • The project is estimated to cost Rs. 1.1L crore; Japan will provide a soft loan of Rs. 88,000cr at 0.1% interest, to be repaid in 50 years with a 15-year moratorium.

    It has one condition: India would buy 30% of the equipment, including coaches and locomotives from Japanese firms. The cabinet had earlier said the remaining 70-80% components could be manufactured in India.

  • InvIT

    InvIT gets delayed again

    InvIT gets delayed again
  • Meanwhile, R-Infra CEO informed that Reliance Infrastructure's (RInfra) Investment Trust (InvIT) has been delayed again. It will now come out during the quarter ending in December.

    This InvIT fund will now have seven road projects and the total fund will be worth Rs. 2,500 crore, which is a sharp fall from its initial announcement of Rs. 5,000 crore fund and ten road projects portfolio.

  • India
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