Friday, February 07, 2020

Titan Aviation to put $5 billion in defence corridor

Lucknow: With an investment of $5.2 billion over two years or roughly Rs 38,000 crore, Titan Aviation and Aerospace India Ltd (TAAIL), in collaboration with Ukrainian companies, has emerged as the highest investor in the defence corridor.

To come up in UP’s Bundelkhand district, the corridor will comprise an aerospace lab, aero university, manufacturing units for engines, aircraft components and air frames and an aircraft assembly line. In five to seven years, the company hopes to start a full production line for aircraft like AN 32, AN 74, AN 140 and AN 178.

K Giri Kumar, chairman and CEO of TAAIL, said the company hopes to use the expertise of Ukrainian companies to eventually produce aircraft using 3D printing along with other techniques.

“While it takes several months for an aircraft to be manufactured, this technology will help us deliver within three to four weeks,” he said.

“We would also like to replace traditional titanium with scandium alloy that will reduce weight of the final product by 30%,” said K Giri Kumar, chairman and CEO of TAAIL.

The company, Kumar said, was negotiating with the UP government for past several months and will finally be signing MoU on Friday. “By February 15, we hope to make our first payment. While 4,000 acre has already been acquired for us, the government has promised to acquire remaining 2,000 acre in eight weeks. Our initial investment will be $300 million,” he said.
07/02/20 Neha Lalchandani/Times of India
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