RIL lines up close to
$1 billion plan in aerospace
sector, may hire around 1,500
people
28 Jul, 2012, 0851 hrs IST, Ullekh NP, ET Bureau
NEW DELHI: Reliance
Industries Ltd (RIL) is
expected to invest close to $1 billion over the next
few years and hire around 1,500
people in its new aerospace
division. Details of RIL's plans were
confirmed to ET by executives
close to the matter who spoke
on the condition of anonymity. Early this month, the Mukesh
Ambani-led company applied
for an industrial licence with the
Department of Industrial Policy
and Promotion to "design,
develop, manufacture, equipment and components,
including airframe, engine,
radars, avionics and accessories
for military and civilian aircraft,
helicopters, unmanned airborne
vehicles and aerostats". This decision by RIL comes after
the creation of two new
entities: Reliance Aerospace
Technologies Pvt Ltd and
Reliance Security Solutions Ltd. The creation of these new
businesses was set in motion
more than a year ago when RIL
created an entity called "new
business" and hired the then
Boeing India chief, Vivek Lall, for launching its aerospace and
homeland security divisions. The application with DIPP
further discloses that "the
company will also undertake
research and produce new
aerospace technologies,
materials, components and equipment and test and carry
out their certification". RIL will also join hands with
global players to bring in
sophisticated civil and military
aerospace technologies into the
country, executives close to the
matter said. It will also prioritise research and
development and testing and
certification of new aerospace
technologies, materials,
components and equipment. In its application to DIPP, RIL has
indicated Nashik as the
headquarters for its aerospace
division - the town is expected
to be the centre of the proposed
manufacturing hub. The company, executives said, will
gradually set up more
manufacturing units across the
country with the aim of making
India a global hub in aerospace
manufacturing. RIL also intends to align with
smaller players and train them
to produce high-quality
products for the airline industry. RIL is looking at creating
synergies to begin with, until it
develops technologies - and
aircraft - on its own. It is in
advanced talks with global
aircraft majors for JVs and strategic collaborations,
executives close to the matter
said.
RIL lines up close to $1 billion plan in aerospace sector, may hire around 1,500 people - The Economic Times on Mobile
PS - Sorry i m not able to do much editing like highlighting text n coloring bcoz i m posting this thread through my mobile
good to see more private players n investment coming in aviation n defence sector in India
$1 billion plan in aerospace
sector, may hire around 1,500
people
28 Jul, 2012, 0851 hrs IST, Ullekh NP, ET Bureau
NEW DELHI: Reliance
Industries Ltd (RIL) is
expected to invest close to $1 billion over the next
few years and hire around 1,500
people in its new aerospace
division. Details of RIL's plans were
confirmed to ET by executives
close to the matter who spoke
on the condition of anonymity. Early this month, the Mukesh
Ambani-led company applied
for an industrial licence with the
Department of Industrial Policy
and Promotion to "design,
develop, manufacture, equipment and components,
including airframe, engine,
radars, avionics and accessories
for military and civilian aircraft,
helicopters, unmanned airborne
vehicles and aerostats". This decision by RIL comes after
the creation of two new
entities: Reliance Aerospace
Technologies Pvt Ltd and
Reliance Security Solutions Ltd. The creation of these new
businesses was set in motion
more than a year ago when RIL
created an entity called "new
business" and hired the then
Boeing India chief, Vivek Lall, for launching its aerospace and
homeland security divisions. The application with DIPP
further discloses that "the
company will also undertake
research and produce new
aerospace technologies,
materials, components and equipment and test and carry
out their certification". RIL will also join hands with
global players to bring in
sophisticated civil and military
aerospace technologies into the
country, executives close to the
matter said. It will also prioritise research and
development and testing and
certification of new aerospace
technologies, materials,
components and equipment. In its application to DIPP, RIL has
indicated Nashik as the
headquarters for its aerospace
division - the town is expected
to be the centre of the proposed
manufacturing hub. The company, executives said, will
gradually set up more
manufacturing units across the
country with the aim of making
India a global hub in aerospace
manufacturing. RIL also intends to align with
smaller players and train them
to produce high-quality
products for the airline industry. RIL is looking at creating
synergies to begin with, until it
develops technologies - and
aircraft - on its own. It is in
advanced talks with global
aircraft majors for JVs and strategic collaborations,
executives close to the matter
said.
RIL lines up close to $1 billion plan in aerospace sector, may hire around 1,500 people - The Economic Times on Mobile
PS - Sorry i m not able to do much editing like highlighting text n coloring bcoz i m posting this thread through my mobile
good to see more private players n investment coming in aviation n defence sector in India
