PIPAVAV DEFENCE AND OFFSHORE ENGINEERING(PDOC) lead by Anil Ambani’s Reliance Group has signed a multi-crore agreement with JSC Ship repairing centre Zvyozdochka,a Russian firm for medium refits and life certification of 877 EKM submarines in India.
- This agreement is signed with the significant step of country’s Make in India programme.
- PDOC officials said that, it will be executed under a joint venture (JV) with 51 percent stake with the indicative value of work planned under this JV is Rs 11,000 crore.
- Under this agreement signed, Zvyozdochka will provide complete technical assistance which includes training of engineers,enhancement of infrastructure at PDOC facilities in Gujarat.
- According to PDOC,with a additional revenue of Rs 20,000 crore,the skills and experience developed by Joint Venture will be undertaking similar work for large submarines forces deployed by Algeria, Vietnam and Iran Countries.
- Through this agreement, Reliance Group became the first private Indian company to refit of submarines in India.
- Zvyozdochka is a premier ship repairing center in Russia, founded in 1954.
- For Russian Navy,it undertakes repairs and upgradation of submarines and warships .
- Till now, Zvyozdochka has undertaken upgradation of more than 90 warships and 120 submarines.