Reliance Naval and Engineering Limited

Reliance Naval and Engineering Limited
Formerly	Pipavav Shipyard Limited; Pipavav Defence and Offshore Engineering Company Limited; Reliance Defence and Engineering Limited;
Company type	Public
Traded as	BSE: 533107 ; NSE: RNAVAL
ISIN	INE542F01012
Industry	Defence; Shipbuilding; Heavy industry;
Founded	17 October 1997; 26 years ago
Founders	Nikhil Prataprai Gandhi ; Bhavesh Prataprai Gandhi
Headquarters	Pipavav Port, Rajula, Amreli district, Gujarat, India
Area served	Worldwide
Key people	Anil Ambani ; (Ex-Chairman)
Services	Ships & offshore Platforms, Pressure Vessels Design, construction, repair and conversion
Revenue	₹14.13 billion (US$170 million) (2018)
Net income	₹−9.56 billion (US$−110 million) (2018)
Total assets	₹99.4 billion (US$1.2 billion) (2018)
Number of employees	367 (March 2018)
Parent	Reliance Infrastructure
Website	www.rnaval.co.in

20°55′20″N 71°29′58″E / 20.922351°N 71.499571°E / 20.922351; 71.499571

Reliance Naval and Engineering Limited (R-Naval), formerly known as Reliance Defence & Engineering Limited and prior to that as Pipavav Shipyard Limited and Pipavav Defence & Offshore Engineering Company Limited ^[1] is an Indian shipbuilding and heavy industry company headquartered in Mumbai. The shipyard is located in Pipavav, Gujarat, at a distance of 90 km South of Amreli, 15 km South of Rajula and 140 km South West of Bhavnagar. R-Naval is the first private sector company in India to obtain a license and contract to build warships. Pipavav is the largest shipyard in India.^[2]^[3]^[4]

History

On 26 March 2015, the Company successfully implemented debt restructuring by raising additional debt of INR 5,500 crore resulting in total debt line in excess of INR 12,000 crore (about US$2 billion).^[6]

17.66 per cent of Pipavav was acquired by Reliance Infrastructure Limited on 5 March 2015 in a US$130 mln deal.^[7] Subsequently, Reliance Infrastructure launched an open offer to acquire additional shares to control 25.1 per cent of the Company. The open offer has been completed and Reliance Infrastructure now holds 36.5% equity in Pipavav and Anil Ambani has been appointed as the Chairman.^[8] The company was renamed to Reliance Defence and Engineering on 3 March 2016 and again renamed to Reliance Naval and Engineering Limited on 6 September 2017.^[9]

Facilities

Pipavav Shipyard is spread over 500 acres (2.0 km²).^[10] It has access to over 720 meters of exclusive waterfront. This is the largest shipyard in India.^[11]

Its dry dock is 640m length and 65m breadth, It can accommodate ships up to 400,000 tonnes DWT. Two cranes with a span of 140 meters & height of 85 meters together capable of handling up to 1200 Ton block and two Level Luffing cranes are erected to service this dry dock. To facilitate afloat fit-out and commissioning of ships, including afloat repairs, a 300–meter long quay, with the capacity for berthing on both sides, adequate draft and serviced by a Level Luffing crane. The entrance of the dry dock also has a 100-meter extension track for the Goliath cranes for unloading heavy machinery and equipment weighing up to 1200 Tons directly from ships and heavy lift barges.^[12]

Achievements and orders

In June 2010, PSL was awarded a ₹26 billion (US$310 million) contract to build five offshore patrol vessels for the Indian Navy.^[13]

In July 2015, Pipavav shipyard was chosen for a 'Make in India' naval frigate order. The order value exceeds more than USD 3 bn. This order is being termed as the private sector's biggest-ever warship-building project.^[14]

On 13 February 2017, Reliance Defence and Engineering Limited (RDEL) has signed the Master Ship Repair Agreement (MSRA) with the US Navy to maintain the vessels of its Seventh Fleet operating in the region, with the company estimating revenues of about Rs 15,000 crore ($2 billion) over next 3 –5 years. The Seventh Fleet’s area of responsibility includes the Western Pacific and Indian Ocean and at any given time there are roughly 140 ships and submarines, 5070 aircraft and approximately 20,000 sailors under its command. Currently, these vessels visit Singapore or Japan for such works. ^[15]

Joint Venture

On 12 September 2011, it was announced that Pipavav Shipyard entered a joint venture with Mazagon Dock Limited to collaborately build warships and submarines using Pipavav's facilities. The deal will free up the congested order book of Mazagon shipyard and will give Pipavav a much needed boost in defence shipbuilding.^[16] In February 2014, Pipavav announced a joint venture with Atlas Elektronik to build Heavy Weight Torpedoes.^[17]

References

^ ^a ^b "Reliance Naval and Engineering Limited: Reliance Defence is now Reliance Naval and Engineering Limited - the Economic Times". economictimes.indiatimes.com. Archived from the original on 9 September 2017. Retrieved 15 January 2022.
^ "Pipavav Shipyard India".
^ "Top 10 Largest Dry Docks in the World". 8 April 2022.
^ "Skillgroup Official". www.skilgroup.co.in. Retrieved 21 April 2024.
^ "Financial Results, Q1 2014–15" (PDF). pipavav defence and offshore engineering company limited. Archived from the original (PDF) on 4 November 2014. Retrieved 14 August 2014.
^ Nair, Vishwanath (25 March 2015). "Pipavav Defence set to restructure Rs7,600 crore debt under CDR". mint.
^ "Reliance Infra to take control of Pipavav Defence in $130 mln deal". Reuters. 4 March 2015. Retrieved 5 March 2015.
^ Prasad, Rachita (19 January 2016). "Anil Ambani chairman of Pipavav Defence after RInfra takes control". The Economic Times.
^ "Reliance Defence and Engineering Limited is renamed R-NAVEL". The Hindu. 8 September 2017. ISSN 0971-751X. Retrieved 18 May 2018.
^ "Overview". Pipavav Shipyard Limited. Retrieved 3 February 2011.
^ Faridi, Shahid (9 March 2022). "Pipavav Shipyard may be sold by March 10; lenders stare at 90-95% haircut". The New Indian Express. Retrieved 21 April 2024.
^ "In the News". Pipavav Shipyard Limited. 20 September 2007. Retrieved 11 September 2011.
^ "Pipavav bags Rs 2,600-cr Navy deal". The Economic Times. 7 June 2010. Retrieved 11 September 2011.
^ Pubby, Manu (14 July 2018). "Biggest warship project: Russia selects Anil Ambani's Pipavav to make frigates for Indian Navy". The Economic Times.
^ "Reliance Defence signs warship repair pact with US Navy". Hindustan Times. 13 February 2017.
^ "JV Pipavav Mazagon". NDTV India. 11 September 2011. Retrieved 13 September 2011.
^ "JV Pipavav Atlas Elektronik". India Strategic. 7 February 2015. Retrieved 7 February 2015.

External links

Official site of Reliance Defence and Engineering Limited

[auto-1] "Reliance Naval and Engineering Limited: Reliance Defence is now Reliance Naval and Engineering Limited - the Economic Times". economictimes.indiatimes.com. Archived from the original on 9 September 2017. Retrieved 15 January 2022.

[2] "Pipavav Shipyard India".

[3] "Top 10 Largest Dry Docks in the World". 8 April 2022.

[4] "Skillgroup Official". www.skilgroup.co.in. Retrieved 21 April 2024.

[psl-fr-q42014-5] "Financial Results, Q1 2014–15" (PDF). pipavav defence and offshore engineering company limited. Archived from the original (PDF) on 4 November 2014. Retrieved 14 August 2014.

[6] Nair, Vishwanath (25 March 2015). "Pipavav Defence set to restructure Rs7,600 crore debt under CDR". mint.

[7] "Reliance Infra to take control of Pipavav Defence in $130 mln deal". Reuters. 4 March 2015. Retrieved 5 March 2015.

[8] Prasad, Rachita (19 January 2016). "Anil Ambani chairman of Pipavav Defence after RInfra takes control". The Economic Times.

[9] "Reliance Defence and Engineering Limited is renamed R-NAVEL". The Hindu. 8 September 2017. ISSN 0971-751X. Retrieved 18 May 2018.

[psl-about-10] "Overview". Pipavav Shipyard Limited. Retrieved 3 February 2011.

[11] Faridi, Shahid (9 March 2022). "Pipavav Shipyard may be sold by March 10; lenders stare at 90-95% haircut". The New Indian Express. Retrieved 21 April 2024.

[psl-innews-12] "In the News". Pipavav Shipyard Limited. 20 September 2007. Retrieved 11 September 2011.

[et-2600cr-13] "Pipavav bags Rs 2,600-cr Navy deal". The Economic Times. 7 June 2010. Retrieved 11 September 2011.

[14] Pubby, Manu (14 July 2018). "Biggest warship project: Russia selects Anil Ambani's Pipavav to make frigates for Indian Navy". The Economic Times.

[15] "Reliance Defence signs warship repair pact with US Navy". Hindustan Times. 13 February 2017.

[profit.ndtv_pipavav-16] "JV Pipavav Mazagon". NDTV India. 11 September 2011. Retrieved 13 September 2011.

[indiastrategic_pipavav-17] "JV Pipavav Atlas Elektronik". India Strategic. 7 February 2015. Retrieved 7 February 2015.

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Reliance Naval and Engineering Limited

History

Facilities

Achievements and orders

Joint Venture

See also

References

External links

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