Wednesday, August 30, 2006

EADS says to invest 2 bln euros in India

New Delhi: European aerospace and defence group EADS said on Tuesday it would invest up to 2 billion euros ($2.57 billion) over the next 15 years in India in production and research and development facilities.
"Over the next 15 years, the volume of investment and high tech activities generated, thanks to the EADS technology centre including the Airbus engineering centre and other cooperation programmes, will reach approximately 2 billion euros," a company statement said.
The technology centre had the potential to create 2,000 jobs in the Indian defence and aerospace sector, it said.
EADS, the maker of Airbus aircraft and Eurocopter, has longstanding ties with Indian military and defence research organisations.
EADS's global competitors, including United Technologies Corp. and Boeing Co., are also strengthening their presence in India.
29/08/06 Reuters India
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