MACHINIST.IN


Pipavav and Airbus Industry, France ink MoU to develop MRO in India
Written by Anand   
Friday, 30 September 2011
Mumbai: Pipavav Defence and Offshore Engineering Company Limited (formerly known as Pipavav Shipyard Limited), SKIL Infrastructure Limited and Airbus Industry, France, have signed a Memorandum of Understanding (MOU) to develop Maintenance, Repair and Overhaul (MRO) facilities and associated infrastructure in India.

This will be a one of its kind joint venture being set up in India with equity participation from EADS, France. The MRO facilities and associated infrastructure will be used for civilian and military applications.

Pipavav Defence and Offshore Engineering Company Limited will be holding 51% stake in the JV Company. EADS will pick up 26% equity in the project and may further increase it to 49%.

In the first phase, the MRO facilities and associated infrastructure are likely to cost USD 100 Million.

"EADS, with revenue upwards of USD 30 Billion, is the global leader in defence and aerospace equipment and a valuable partner for the joint venture," the company said in a statement. This will be a one of a kind joint venture being set up in India with equity participation from EADS, France.

 
Related news
More recent
Earlier on