Friday, October 27, 2017

Dassault to invest €100 million in Anil Ambani aerospace venture

Mumbai: The French aircraft manufacturer Dassault and Anil Ambani Group promoted Reliance Aerospace laid the foundation stone for the ₹6,500-crore Dhirubai Ambani Aerospace Park (DAAP) at MIHAN in Nagpur. Dassault will be investing about €100 million in the facility.

The investment is being regarded as one of the largest FDI in the defence sector.

A joint venture Dassault Reliance Aerospace Ltd (DRAL) will manage the DAAP and make parts for the Rafale fighter jets and Falcon business aircraft.

DRAL was set up as a part of Dassault's offset obligations for the ₹58,000-crore deal to supply 36 Rafale fighter jets to Indian defence forces. The French companies offset obligation is worth about ₹30,000 crore. The facility is coming up at MIHAN.

MIHAN is being developed by Maharashtra Government for the last 10 years as destination for the aviation industry.

Boeing has developed a MRO hanger for Air India and TAL Manufacturing Solutions Ltd of the Tata Group also has a facility at MIHAN. The DAAP will be spread over 289 acres.

DRAL will also manufacture components for the Legacy Falcon 2000 series of civil jets.
27/10/17 Business Line

0 Comments: