Mumbai, April 17 (IANS) Reliance Infrastructure-promoted Reliance Defence and South Korean major LIG Nex1 will jointly explore opportunities in supply of weaponry need by Indian armed forces, the company announced on Monday.
In a statement issued here, Reliance Defence said it has entered into a strategic partnership agreement with LIG Nex1 whereby the two companies will explore opportunities in the indentified range of defence products.
“LIG Nex1 are emerging leaders in smart heavy weapons in category of anti-ship missiles, anti-tank guided missiles (ATGM), and guided rockets,” the statement said.
According to Reliance Defence, currently, there are multiple programmes that the two companies plan to address together.
“This will potentially include improvements to the existing weapon systems which are part of LIG Nex1 portfolio to meet the specific requirements of the IAF, the company said.
The two companies have also identified air defence and surveillance radar that can be manufactured in India, as a potential area of co-operation.
They will also work on performance enhancement for various systems/platforms in the portfolio of LIG Nex1, the statement said.
India and South Korea’s relations were upgraded to Special Strategic partnership during the Prime Minister Narendra Modi’s visit to Seoul.