Anil Ambani’s Reliance Infra to make Rafale jet parts in India under JV with Dassault Aviation

dassaul

Reliance Anil Ambani group said itś unit Reliance Aerospace entered into a joint venture with Dassault Aviation, a French aircraft manufacture.

The partnership between Reliance and Dassault will also focus on promoting Research and development projects under the IDDM program (Indigenously Designed, Developed and Manufactured), a new initiative of India’s Defence Minister Manohar Parrikar.

The “Dassault Reliance Aerospace” will focus in the execution of offset obligations, as a part of the 36 Rafale fighter Jets purchase agreement at a value of €7.87 billion (Rs 59 crore) signed between France and India on September 23, 2016.

The agreement includes a 50% offset obligation which is the largest ever offset contract in the history of India. Offset obligation means part of the components must be made locally.

It is not clear how much of the local production would be done through this new joint venture.

Dassault Aviation SA is an international French aircraft manufacturer of military, regional, and business jets, a subsidiary of Dassault Group. It was founded in 1929 by Marcel Dassault and the Éclair propeller as Société des Avions Marcel Bloch or “MB”.

´The JV called “Dassault Reliance Aerospace” will support Prime Minister Modi’s “Make in India” and “Skill India” policies and develop major Indian programs with high levels of technology transfer to benefit the entire aerospace sector,´ the Indian aerospace company said.

The company said it has delivered 8,000 military and civil aircraft delivered to more than 90 countries over the past 60 years.

The company has 12,000 employees.

In 2015, Dassault Aviation reported revenues of €4.20 billion (313.64 crore).



Indian Aviation 2016: INDIGO the big winner, JET Airways, AIR INDIA losers InterGlobe-owned Indigo turned out to be the big winner in Indian aviation sector in 2016, increasing its domination of the Indian skies relentlessly through the year.It was a good year for Indian aviation as low fuel prices kept fares affordable, leading to a 23% jump in total passengers to 99.9 million; almost 10 cr passengers in the year.Indig...
Tata Steel acquires Brahmani River Pellets at Rs 900 cr EV Tata Steel Limited said that it has executed definitive agreements to acquire 100% equity shares of Brahmani River Pellets Limited (BRPL) from Aryan Mining and Trading Corpn Private Limited (AMTC) and other companies in the Moorgate Industries Group (MIG).The transaction is based on an enterprise value of Rs. 900 crores plus closing adjustments and ...
Reliance Communications sells its towers to Brookfield for $1.6 bln Reliance Communications Ltd announced the signing of binding agreements with Brookfield Infrastructure for the sale of nationwide tower assets to Brookfield Infrastructure Partners LP and its institutional partners.RCOM will receive an upfront cash payment of Rs. 11,000 crore (US$ 1.6 billion).RCOM will also receive Class B non-voting shares in t...
Cipla redraws Iran plans with new agreement, to invest Rs 121 cr Cipla said its wholly owned subsidiary of the Company in Netherlands will set up a 75% joint venture with Ahran Tejarat Company for manufacturing and marketing of pharmaceutical products in Iran.An earlier agreement executed by the Company with the Iranian firm has been terminated.The total investment will be euro 16.875 million, which comes to about...
Anil Ambani’s Reliance Infra sells transmission assets to Adani Following on the heels of its announcement to sell its transmission assets to Adani Group, Reliance Infrastructure today said it has signed a share purchase agreement with Adani Transmission for the sale of 100% of its Western Region System Strengthening Scheme Transmission Assets."SPA for Parbati Koldam Transmission Company Limited (PKTCL) shall be exe...
Spicejet turnaround continues, Q2 Profit doubles SpiceJet reported a doubling of its net profit to Rs 58.9 Crore for the July-September period as against Rs 29 crore for the same quarter last year.Operating revenue for the quarter stood at Rs.1,400 crores, a growth of 35%.Capacity deployed registered a growth of 38% over the same quarter last year.Despite a sluggish corporate sector, airlines...
Anil Ambani Group sells 2 TV channels, 59 FM stations to Zee Subash Chandra's Zee Group is buying the general entertainment channels and FM radio business of the Anil Ambani group.Because of lock-in provisions, the acquisition of 59 FM radio licenses will be done in two stages.The FM channels are being broadcast under the brand “92.7 BIG FM”, reaching to 45 cities, 1200 towns and over 200 million people.It...
Anil Ambani group sells Big Magic, Ganga to Zee Entertainment Zee Entertainment Enterprises said it is acquiring the General Entertainment Broadcasting Business of Reliance Big Broadcasting Private Limited, Big Magic Limited & Azalia Broadcast Private Limited, all part of Anil Ambani led Reliance Group.The TV Broadcasting business of Reliance Group Entities currently comprises two operational general entertainm...
SpiceJet offers tickets for Rs 737 in annual sale, Bangalore-Delhi at 2900 SpiceJet has launched its ‘Spicy Annual Sale’, offering all inclusive one-way fares as low as Rs 737 for travel to select destinations on its domestic network. The four day sale launched today will be open till midnight, 24th November, 2016 whereas the travel period covered is from 9th January 2017 to 28th October, 2017. The starting fare of Rs 737- all...
No plan to regulate surge pricing for airlines – Govt of India The central government has said that it has no plans to impose any limits on the fare charged by airlines in India.The clarification has come in the context of demands in certain quarters that airlines will be the next to see curbs on surge pricing after such limits were placed on taxi services such as Uber.Last week, the Karnataka High Court had dis...
Bharti Airtel merges Bangladesh unit with Robi Axiata Bharti Airtel Limited announced the completion of the merger of its subsidiary Airtel Bangladesh with Robi Axiata Limited (Robi Axiata), a unit of Axiata Group Berhad. The merger was completed following the fulfilment of the condition precedents to the Agreement and filing of the merger order with the Registrar of Joint Stock Companies and Firms of Bangl...
New Goa airport at Mopa to be ready by 2020 GMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited, today signed the agreement with Government of Goa for the development and operation of north Goa’s Greenfield International Airport at Mopa.GMR Airports Ltd (GAL) a subsidiary of GMR Infrastructure Ltd, is one of the largest airport developers in the world; handling more than 70 mill...
Future Retail to pay Rs 273 cr in stock for Heritage Foods’ retail biz Heritage Foods Ltd said it agreed to sell its food retail business to Future Retail Ltd in return for shares in the Kishore Biyani firm.The businesses covered by the deal are grocery and food retail, agricultural sourcing, processing and marketing, and bakery.As part of the deal, Future Retail will issue about 1.80 cr shares to the shareholders of He...
Jet Airways launches daily flights from Bengaluru to Singapore Jet Airways said it is launching a daily direct flight from Bengaluru to Singapore from 14th December, further expanding its connectivity across the ASEAN region. The new flight will offer passengers from Hyderabad, Mangaluru, Coimbatore and Thiruvananthapuram connectivity to Singapore via Bengaluru.“This service has been introduced in response to gr...
RCom to rebrand Reliance Digital TV as Chois HD? Anil Ambani group's Reliance Digital DTH may be rebranded to 'Chois HD', according to a twitter user, who also tweeted some photographs of the upcoming brand.Reliance Communications' Reliance Digital is arguably the weakest candidate among the five private companies that compete in India's DTH space.The DTH business is dominated Dish TV, Tata Sky, ...