Mahindra, Airbus inked pact to form JV for military helicopters
Author yuvamind
Chandigarh :-Mahindra Defence and Airbus Helicopters today inked a pact to form a joint venture to produce military helicopters in India.
The statement was inked today by representatives of both companies in the presence of Prime Minister Narendra Modi and French President Francois Hollande.
“We have made important growth in setting up the joint venture and together the companies are creating a excellent advanced helicopter production facility in India,” Mahindra and Mahindra Group President for Aerospace and Defence S P Shukla said in statement.
Mahindra Defence and Airbus Helicopters have already started working on steps to produce helicopter parts locally and are defining additional work packages to be industrialized in India.
The companies are proposing to set up a final assembly line in India, develop tier-1 and tier-2 suppliers and make extensive transfer of technology, with the intent to ultimately achieve 50 per cent indigenous content.
“Mahindra Defence and Airbus Helicopters have agreed on a blueprint that can put India on the world map for military helicopter manufacturing,” President of Airbus Group India Pierre de Bausset said. The JV formation will be subject to customary regulatory approvals.