Jobaaj Stories
Safran, the star player in engine making, plans to set up a Maintenance, Repair, and Overhaul (MRO) facility in India for the overhaul of engines that can be used by Indian and foreign commercial airlines.
“The MRO facility through direct foreign investment of $150 million in Hyderabad is expected to create 500-600 highly skilled jobs. The facility will be able to overhaul over 250 engines per year in the beginning. The joint venture is expected to hire 160 new highly skilled personnel.” the Defense Minister, Mr. Rajnath Singh quoted in an interview.
Tata Steel completes acquisition of NINL, read more.
Mr. Oliver Andries, the CEO of Safran, also intimated to Mr. Singh, his plan to inaugurate Safran Aircraft Engines and Safran Electrical & Power India Private Limited setting up their plants in Hyderabad while Safran-Hindustan Aeronautics Limited (HAL) Aircraft Engines will be set up under a joint venture agreement between both the companies in Bengaluru.
Safran aircraft engine to be set up in Hyderabad, spreading over 10 acres of land in the city's Special Economic Zone (SEZ), will produce parts and components for advanced aircraft engines.
The joint venture entered between Safran and HAL aims for the production of rigid piping for aircraft and helicopter engines. The harnesses for civil and fighter jets will be produced by Safran Electrical & Power India Pvt. Ltd.
Mr. Andries long-term plans for India included the development and production of advanced jet engines and the transfer of technology. To which, Mr. Singh replied, “We are a big market. However, we are increasingly focused on making in India for addressing the needs in a competitive manner and supplying to foreign friendly countries. You can leverage all the competitive advantages India offers, including the cost advantages and the trained manpower.”
-by Gautam
This news piece is brought to you in association with jobaaj.com
