Thursday, April 13, 2006

Boeing to invest $1.5 bn in India as part of A-I order

New Delhi: Funds to be spent on setting up facilities, R&D and sourcing software and other equipment.
The Boeing Company will invest $1.5 billion, directly and indirectly, in India as part of its $6-billion deal with Air-India for 68 aircraft.
The money will be spent on setting up facilities, research and development and sourcing software and other equipment.
Boeing will also set up an aircraft maintenance facility, which will be for $185 million, in association with Air-India.
“We are very bullish on the Indian market. We already have relationships with a variety of companies in the areas of aviation-related software development and back office,” said Boeing Chairman and Chief Executive James McNerney here today.
The government is in the process of finalising orders for 126 multi-purpose fighters and maritime patrol aircraft and helicopters. Both Boeing and its European rival, EADS, are in the fray. McNerney said he expected more orders from Indian airline companies.
13/04/06 Business Standard

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