Daily Archives: October 9, 2020

Indian Navy cancels Reliance Naval’s Rs 2,500 crore offshore patrol vessel contract: Report

The contract to build five warships for the Indian Navy was signed with the company in 2011, much before the Reliance Group took over the Gujarat-based shipyard from its erstwhile owner Nikhil Gandhi. Anil Ambani led Reliance ADAG Group took over Pipavav Defence And Offshore Engineering Ltd in 2015 and later renamed the entity as Reliance Naval and Engineering Ltd (RNEL).