Govt. owned Hindustan Aeronautics Limited (HAL) ignored for the benefit of Anil Ambani Group promoted #Reliance Aerospace and Reliance defence & Aerospace gets offset obligations benefit of 30,000 crore from @Dassault_OnAir https://t.co/StlwsNweFh— Press Release Watch (@PrReleaseWatch) November 25, 2017
The joint venture, Dassault Reliance Aerospace Ltd, in which the French company holds a 49% stake, will make components for the Legacy Falcon 2000 Series of civil aircraft and be part of its global supply chain, the firm said in a statement. Production will begin from 2018.
The Reliance Group will make a similar investment in the joint venture, said Eric Trappier, chairman of Dassault Aviation. He was talking to reporters on the sidelines of an event to lay the foundation stone for Dhirubhai Ambani Aerospace Park, the joint venture’s manufacturing facility in Nagpur.
Sh. Anil Ambani & Eric Trappier, Chairman & CEO, @Dassault_OnAir today laid the foundation stone for Dhirubhai Ambani Aerospace Park (DAAP) pic.twitter.com/6Erd0IGZvA— Reliance Group (@reliancegroup) October 27, 2017
The joint venture’s production comes under the offset clause of the Rafale fighter jets deal signed by India and France last year. Under that agreement, France sold 36 Rafale jets to India for Rs59,000 crore; in return, French companies involved in the manufacture of the aircraft have to invest 50% of the amount in India’s defence manufacturing ecosystem and making components locally.
The joint venture has the maintenance contract for the 36 Rafale jets that have been ordered from France for 50 years, said Ambani. He said the JV will focus on both defence and commercial aircraft.
