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.

The components will be integrating itself into the French company’s supply chain.
27/10/17 Business Line
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