Anil Ambani has got one of the world’s largest weapons-maker to partner it to create military trucks for India

Tatra, the world-famous vehicle manufacturer from Czech Republic, is all set to join hands with Reliance Defence to make military trucks for India as well as foreign countries. This is the first major defence joint venture after the revolutionary relaxations in the FDI policy, which made it easier for foreign investors to venture into the defence manufacturing.

As per the FDI norms, Reliance would have a majority stake of 51%, while Tatra would have the remaining 49%.

Two weeks ago, the defence ministry received a letter about the impending JV. As per ET sources, the two companies are planning to partner for maintenance and overhaul facilities, upgrades as well as manufacturing units for the trucks in India and have signed a Memorandum of Understanding (MoU).

The trucks would be manufactured at a new production unit at the Dhirubhai Ambani Defence Park, according to the 'Make in India' initiative. The companies are yet to start the process of registering the company and obtaining manufacturing licences.

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