Rotorcraft to set up helicopter manufacturing unit at GMR SEZ
Press Trust of India / Hyderabad Sep 08, 2010, 11:40 IST
Indian Rotorcraft, a joint venture between Tatas and Italian company AgustaWestland, is likely to set up a helicopter manufacturing unit at GMR's aviation SEZ at the Rajiv Gandhi International Airport here soon.
The JV will manufacture AW119, an eight-seat utility helicopter here for AgustaWestland, a company owned by Italy-based Finmeccanica.
GMR Group Chairman G M Rao said an international helicopter manufacturer is planning to set up its shop in their SEZ but refused to confirm the name of the company.
"The proposal is finalised. We cannot divulge the name of the company at this time as it still has to be cleared by the FDI (Foreign Direct Investment) Board and other regulators," Rao told PTI.
Sources close to the development, however, said Indian Rotorcraft will be setting up the manufacturing facility in the SEZ.
Giuseppe Orsi, Chief Executive of AgustaWestland and Co-Chairman of Indian Rotorcraft said they initiated talks with two Special Economic Zones (SEZs) in Hyderabad, one within the airport and one outside the airport, where Tata already has its operations.
"After evaluating, we have decided to go ahead with the SEZ within the airport as that will not just provide us with greenfield (space), but also other infrastructural benefits," Orsi had said in an interview on the sidelines of the Farnborough air show in the UK.
According to AgustaWestland, the joint venture company will be responsible for AW119 final assembly, completion and delivery while AgustaWestland will retain the responsibility for worldwide marketing and sales.
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Indian Rotorcraft, a joint venture between Tatas and Italian company AgustaWestland, is likely to set up a helicopter manufacturing unit at GMR's aviation SEZ at the Rajiv Gandhi International Airport here soon.
