Reliance Defence and Rafael Advanced Defence Systems announced they have decided to set up a joint venture company in India in the highly specialized areas of air-to-air missiles, air defence systems and large aerostats.

The joint benture will provide cooperation into the field of indigenous production and development of high-precision and weapon systems in India.

Reliance and Rafael joint venture will have 51% holding from Reliance Defence and 49% by Rafael as per the current guidelines of Government of India.

The new company will be located at Dhirubhai Ambani Land Systems Park, Pithampur, Indore in the state of Madhya Pradesh.

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