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Reliance Defence Ltd has signed an agreement with a provincial government for setting up a naval facility along the country’s eastern coast with an initial investment of 50 billion rupees (USD 748 million).
Reliance Defence which is a unit of Anil Ambani’s Reliance Infrastructure Ltd, is planning to build submarines and aircraft carriers as well as for providing services including maintenance and refitting of ships at the facility.
In Andhra Pradesh, it will be located 70 km south of Visakhapattanam.
