Reliance Aerostructure Ltd’s 51:49 joint venture with Dassault Aviation has been incorporated as Dassault Reliance Aerospace Ltd (DRAL).
Eric Trappier, chairman of Dassault Aviation France, will be the chairman of the venture and Anil Ambani, Chairman of the Reliance Group, will be the co-chairman of DRAL.
DRAL will be a key player in the execution of offset obligations between India and France for the purchase of Rafale jets.
DRAL will develop infrastructure at Dhirubhai Aerospace Park at Mihan, Nagpur and construction of the greenfield facility will start in May 2017, and production by end-2017.
In phase I, DRAL’s programme is expected to generate over 700 highly skilled direct jobs and 2,800 indirect jobs.
‘India Investment Journal’ has been tracking this issue