Censor.NET reports citing Indiatimes. The project might replace the previously frozen Russian-Indian Multi-role Transport Aircraft (MTA) deal.
"Reliance Defence Ltd along with Ukraine based State Corporation Antonov have agreed to cooperate on dual version transport aircraft for Military, Para military and Commercial use in India," the Anil Ambani-led group said in a statement.
There is requirement of more than 500 aircraft in different roles and the market size is expected to exceed Rs 35,000 ($5,3 billion) over next 15 years, the Reliance Group said.
The agreement was signed at Defexpo India 2016. Ukrainian delegation held eight talks with the Defense Minister of India and the supreme command of the Indian armed forces. A total of 15 memorandums of cooperation were signed during the exhibition by the parties.
"Reliance Defence together with...Antonov would jointly address various requirements including 50-80 seat passenger aircraft in its basic configuration and in all its variants such as transport, maritime patrol and other military roles," the statement reads.
The production facilities will be located at India's first integrated Aerospace Park at Mihan, Nagpur (Central India).
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The partnership envisions design of fixed wing military aircraft configured for use in tactical as well strategic roles. Powered by two turbo fan high fuel efficiency jet engines, the medium lift aircraft is capable of short field runways operating from remote airfields with unpaved surfaces, the statement said.
India has requirement of over 200 medium lift turbo fan aircraft which is the backbone of all tactical Logistic Transport Support Role (TSR) as well as Route Transport Roles (RTR) of the Air Force, Army and paramilitary forces.
The agreement was reached between Anil Ambani, Chairman of the Reliance Group and Oleh Hladkovskyi, Deputy Secretary of the National Security and Defense Council of Ukraine, who is responsible for the country's military-technical cooperation and export control.
Earlier in the Defense Ministry of India reported that Multi-role Transport Aircraft (MTA) joint Russian-Indian project has been almost frozen. This information was later confirmed by the Russian Aviation Complex.