Infotech, HAL ink JV to tap booming aviation mkt

Hyderabad: Infotech Enterprises Ltd (IEL) and Hindustan Aeronautics Ltd (HAL) have formed a 50:50 joint venture (JV) to tap the growing aerospace engineering design services market, estimated to grow to $3-4 billion over the next few years.
The new company, which will be based in Bangalore, will focus mainly on aero-engines and anticipated work from various original equipment manufacturers under the offset programmes, an Infotech statement said.
The Indian government mandates that any company, civilian or otherwise, selling aerospace products in the country have to source at least 30% of the value of the work from within the country. For instance, both Airbus and Boeing, which have booked sizeable orders in India, will have to carry out work worth over $3 billion in India under the programme.
04/05/07 C Chitti Pantulu/Daily News & Analysis

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Categories: General Aviation May 2007