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13
February 2017
Reliance
Infrastructure Limited (RInfra)-controlled 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 ($10 billion) over
next 3 -5 years.
The
Reliance Shipyard at Pipavav in Gujarat, one of the largest drycocks in the
world, was qualified by as an approved contractor in January 2017 to perform
complex repair and alternation services for the US Navy. The Total Investment & Insurance Solutions
The
Reliance Shipyard is the first in India to have received MSRA Certification to
undertake servicing and repairing work for the vessels of the Seventh Fleet.
The fleet has about 100 vessels of different types including auxiliaries.
Currently, these vessels visit Singapore or Japan for such works. The Total Investment & Insurance Solutions
"Reliance
Shipyard has been selected after a detailed site survey by US Government
representatives in end October 2016," an RInfra satement said, adding:
"This selection by the US Navy is a true recognition of the world-class
facility, processes and the high standard of capability of Reliance
Shipyard." The Total Investment & Insurance
Solutions
The
MSRA is a spin-off from the Logistics Exchange Memorandum of Agreement (LEMOA)
signed on August 30, 2016 during Defence Minister Manohar Parrikar's visit to
US. The negotiations for this had spanned over a decade. The Total Investment & Insurance Solutions
The
LEMOA is a tweaked India-specific version of the Logistics Support Agreement
(LSA) that the US has with several countries it has close military-to-military
cooperation with.
The
LEMOA gives both countries access to designated military facilities on either
side for refuelling and replenishment. India and the US already hold large
number of joint exercises during which payments are done each time, which is a
long and tedious process.
Pursuant
to the signing of LEMOA, the US Navy is believed to have conducted survey of
various shipyards in India before qualifying the Reliance Shipyard at Pipavav
as the one qualified to undertake complex repair and maintenance work.The Total Investment & Insurance Solutions
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