EADS unit Eurocopter plans USD 1 billion investment in India
Dated 3/7/2006
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Hong Kong: Eurocopter, a unit of the European Aeronautic Defence and Space Co (EADS), will invest over 1 bln usd in India over the next two years, India's Business Standard reported on its website, citing company officials.
The report said that Eurocopter has put in bids to manufacture over 500 helicopters for Indian defence services.
The company is planning to set up an Indian subsidiary, a helicopter training school, and a maintenance, repair and overhaul centre for helicopters in the country, it said.
It quoted Eurocopter's south Asia sales director Rainer Farid as saying that the company is bidding along with India's Hindustan Aeronautics Ltd (HAL) for light and 10-tonne helicopters for the Indian army, navy and air force.
'We are exploring industrial deployment of our helicopters. Eurocopter is also planning to hire a qualified workforce for its India operations, based in Bangalore. The total investment in India could be in the region of 1 billion dollars,' he was quoted as saying.
