Reliance Defence today said it will enter into a joint venture with Ukraine's Antonov, makers of AN 32 aircraft in service with the IAF, in the filed of transport aircraft for military and civil uses.
"Reliance Defence Ltd along with Ukraine based State Corporation Antonov have agreed to cooperate on dual version transport aircraft for Military, Para military and Commercial use in India," the Anil Ambani-led group said in a statement.
The JV proposal comes at a time when India is in the midst of acquiring new transport aircraft and is in the process of upgrading the 105-strong fleet of AN 32, the country's primary transport aircraft. There is requirement of more than 500 aircraft in different roles and the market size is expected to exceed Rs 35,000 crore over next 15 years, the Reliance Group said. ..