By Vivek Raghuvanshi
NEW DELHI — Eyeing the Indian Navy's plan to build six nuclear attack submarines, private sector Reliance Defence has announced it will set up a dedicated shipyard close to the Navy's shipyard at Visakhapatnam to build nuclear submarines.
The shipyard will "be co-located with the Indian Navy's strategic base and Bhabha Atomic Research Centre (BARC's) nuclear facility at Rambilli 70 kilometers south of Vizag," according to a Sunday statement by Reliance Defence, a subsidiary of Reliance Infrastructure owned by billionaire Anil Ambani.
Speaking at a summit in Vishakhapatnam, Ambani said the facility will be built with an initial investment of $757 million, adding that the facility could lead to the creation of an array of defense ancillaries with further investments of up to $1.5 billion.
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