Reliance Infrastructure, which has already carried out an investment of around Rs. 15,000cr in various projects in the country's infra segment, is betting big on smart cities and defence manufacturing as they would be the future growth drivers for the company, chairman Anil Ambani, said recently, adding that the acquisition of Pipavav Defence will be concluded in the current year itself, and also indicated that the strategic sale in roads and cement business is currently in the pipeline. As a matter of fact, for the smart cities project as Reliance Infra had the expertise to offer integrated solutions with capabilities in utilities, transport, and telecom, among other areas. He, however, had some concerns, given the experiences of some group companies especially in the public-private partnership space, as also over regulatory uncertainties, legal deadlocks and arbitration, fulfillment of promises, and proper risk sharing mechanisms. Describing defence manufacturing as a sector with moderate capital intensity, the projects on the plate included Naval System Development Center of Excellence in Saurashtra, Aerospace Center of Excellence near Nagpur, and an innovation center in Bangalore. The player is currently negotiating with large number of international defence majors for strategic partnerships for the execution of these ventures, he added.