You are here: Home » PTI Stories » National » News
Business Standard

Dhirubhai Ambani Aerospace Park foundation to be laid tomorrow

Press Trust of India  |  Nagpur 

French aircraft maker and Ltd will tomorrow lay the foundation stone of an park which will manufacture aircraft components for the Indian as well as the global market. It is estimated to cost about Rs 6,500 crore. French Defence Minister Florence Parly, top officials of Dassualt Aviation and Chairman of Group Anil Ambani are scheduled to attend the foundation-stone laying ceremony of Park (DAAP) at the Multimodal International Hub Airport at (MIHAN) here. "The joint venture will create state-of-the-art integrated ecostructure to execute the Rs 30,000 crore offset programme linked to the sale of 36 Rafale fighter jets by Dassualt Aviation to India," a company release said. Spread over 289 acres, DAAP is being touted as the largest greenfield project in and will have assembly lines and manufacturing facilities for fixed wing aircraft, and produce aircraft components for Union minister Nitin Gadkari, Maharashtra Chief Minister Devendra Fadnavis, Chairman of Dassault Limited (DRAL) and Chairman and CEO of Eric Trappier, will also be present on the occasion tomorrow. The DassaultReliance partnership will bring in not only a high level transfer of technology, but also help develop the eco-system of the domestic sector and feed into the global supply chain, an official said. Many Indian MSMEs are also expected to set up facilities at DAAP.

The DassaultReliance JV has already shortlisted large number of vendors, mostly small-and medium-size enterprises, to be part of the supply chain at DAAP. Company sources said the production will start in the first quarter of 2018 at DAAP, being set up with an investment of Rs 6,500 crore. "Infra-promoted Aerostructure Ltd (RAL) will have 51 per cent shareholding in the JV while (DA) will hold 49 per cent," said a source. The first batch of managers for DRAL started their training in France in May this year and will be back in December. "Once fully operational, DRAL will generate more than 700 direct jobs, 5,000 high skilled jobs at DAAP and more than 15,000 secondary jobs," they said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, October 26 2017. 15:48 IST
RECOMMENDED FOR YOU