Mahindra & Mahindra Ltd. (MM) and Taneja Aerospace & Aviation Ltd. (TAA) are in separate talks with India as the country seeks a partner for a planned regional jet that will spearhead its drive to develop a planemaking industry.
Discussions with state-owned National Aerospace Laboratories are at an early stage and the companies are awaiting more details, Arvind Mehra, chief executive officer of Mahindra Aerospace Pvt., and S.M. Kapoor, the head of Taneja’s plane-making facility, said in interviews. Shyam Chetty, the head of plane designer National Aerospace, didn’t reply to e- mailed questions yesterday.
“If it makes economic sense, we would like to be a partner,” Mahindra’s Mehra said. “But ultimately we still have to get a lot of information.”
NAL last year announced the 40 billion-rupee ($788 million) plan to develop a 90-seat aircraft as the country joins China in trying to form a globally competitive aerospace industry. The Indian plane, China’s ARJ-21 and an in-development Mitsubishi Heavy Industries Ltd. aircraft will all compete against Bombardier Inc. (BBD/B) and Embraer SA (EMBR3) models.
29/03/12 Karthikeyan Sundaram and Siddharth Philip/Bloomberg
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