Mumbai: Infrastructure major Reliance Infrastructure on Tuesday said it will participate in the "very ambitious" Rs 1 lakh crore bullet train project of the Indian Railways.

"We are deeply engaged and involved with a number of Japanese companies through JVs (joint ventures) and we will participate in this very ambitious Rs 1 lakh crore project," Reliance Infrastructure's Chairman Anil D. Ambani said while addressing the company's shareholders at the 88th annual general meeting (AGM).

According to Ambani, the company is focusing on the EPC (engineering, procurement, construction) segment.

"In Mumbai, we are short-listed as bidder for Bandra-Versova Sea Link, coastal road project, and we also have LoIs (letter of intent) for metro orders," Ambani said.

"Besides, we have also qualified for the Mumbai-Nagpur Expressway project. We will go through the process and compete."

Ambani further said that government is expected to shortly award contract for manufacture of six submarines worth Rs 50,000 crore.

"With the acquisition of Pipavav, we are one of the only two companies in India strategically positioned to participate in government of India's strategic partnership programme to build submarines. For the first time in India, private sector company will be actually building a submarine,"

"We believe very strongly that Defence is a sunrise sector. 90 per cent of country's defence requirements are imported."