Mutual work in ammunition field totaling EUR 2,7 billion - Yugoimport and Indian Anil Ambani contract on ten-year partnership

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As reported by Indian media, partnership refers to production of ammunition and discovery of business opportunities.

Anil Ambani Group announced this, as stated, the day after the head of Reliance Defense Ammunition, within which the company operates, met Serbian President Aleksandar Vucic. The meeting was also attended by minister of defense, Zoran Djordjevic, as well as general manager of Yugoimport SDPR, it was written in the text.

- The two companies will work together, among other things, in the field of weapons, with projected request of Indian armed forces in the next ten years of EUR 2.7 billion – it was stated.

As mentioned, there is a possibility of arms exports, along with the transfer of technology from military equipment original manufacturers and production to India.

Yugoimport is, it was written in the text, a state-owned company and a leader in the arms and military equipment market, which offered a complete technology solution in line with demands of Indian government and Reliance, which proposed a greenfield investment to build an ammunition production plant.

It was added that Reliance will also work on development of new generation of ammunition to meet the needs of the Indian armed forces in the future.