Wednesday, 12 August 2015

Expat NewsBurst: Reliance Group plans $1bn Aerospace Park.

The Anil Ambani-owned Reliance Group has selected Mihan near Nagpur in Maharashtra for developing India's first smart city for the defence sector. Known as Dhirubhai Ambani Aerospace Park (DAAP), the smart city will be developed at a cost of $1 billion to manufacture helicopters for both commercial and military applications.
The project would be the first integrated facility in aerospace structure, engine design and manufacture, fabrication and platform integration in the country.
The move is part of the Reliance Group's aggressive play in defence, seeking to capture a slice of the $100 billion worth of opportunities that the sector would soon throw up as part of the NDA government's 'Make in India' programme to focus on indigenous manufacturing of defence equipment.
Confirming the move, Reliance Group chairman Anil Ambani said, "The group plans to develop DAAP as a centre of excellence in the aerospace segment on the lines of the global centre of ship building at Pipavav in Gujarat." Earlier this year, the Reliance Group added heft in its defence manufacturing by buying out Nikhil Gandhi-promoted Pipavav Defence and Offshore Engineering (PDOE), which houses India's largest dry dock facility to build warships. It subsequently committed investments of Rs 5,000 crore towards indigenization efforts

SOURCE: Times of India