 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 by AFP Staff Writers Mumbai (AFP) Sept 9, 2021
European aerospace giant Airbus has clinched a landmark $3 billion deal to make military aircraft for India in partnership with local conglomerate Tata, the defence ministry said Wednesday. Airbus has been lobbying for nine years for the tender to make 56 military transporters for the Indian Air Force. As part of the joint-venture agreement, India will import 16 Airbus Defence and Space aircraft made in Spain within two years of the contract being signed. The remaining 40 Airbus-designed aircraft will then be manufactured locally by Indian conglomerate Tata over 10 years. "This is the first project of its kind in which a military aircraft will be manufactured in India by a private company," the Ministry of Defence said in a statement. The ministry described the deal as a "major boost" to the government's "Self-reliant India" campaign. India's Hindu nationalist government has stepped up efforts in recent years to reduce the country's dependence on imports and to create jobs. The Airbus deal is expected to create 600 manufacturing jobs and another 6,000 indirect jobs for Asia's third-largest economy. Each C-295MW transporter will also come fitted with Indian made electronic warfare systems. With India in a decades-old rivalry with Pakistan and tensions increasing with China, New Delhi has spent heavily on modernising its ageing military infrastructure. The expenditure includes $9.4 billion on Rafale fighter jets from French firm Dassault. At least 26 have been delivered and 10 more are expected by the end of 2021, authorities say. ng/tw/ssy
US aerospace group steps aside in battle for UK peer London (AFP) Sept 7, 2021 US aerospace parts manufacturer TransDigm on Tuesday decided against a higher counter bid for British peer Meggitt, paving the way for Parker-Hannifin Corporation to complete a multi-billion-dollar takeover. TransDigm on August 11 said it was looking at formally bidding 7.0 billion pounds ($9.5 billion, 8.2 billion euros) for Meggitt. The previous week, Parker-Hannifin Corporation - a US company specialising in aerospace technologies - announced a deal to buy Meggitt for 6.3 billion pounds. In a state ... read more
|
|||||||||||||
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us. |
del.icio.us
Digg
Reddit
Google
