Retirement Planning an Important Goal

Maharashtra & Reliance Group partner to set up India's first Defence City

Maharashtra & Reliance Group partner to set up India's first Defence City. Proud to contribute to Nation's security.

Anil Ambani-led Reliance Group plans to set up a greenfield aerospace project with capital investment of over Rs 6,500 crore in 289 acres of land in Mihan SEZ here.

"We are deeply committed to defence sector. Our first acquisition was Pipavav. Project at Mihan would be the largest greenfield project not only in India but in South East Asia," Reliance Group Chairman Anil Ambani said.

The land allotment letter was handed over to Reliance Aerostructure Ltd, the defence arm of Reliance Group, at a ceremony here which was attended by Maharashtra Chief Minister Devendra Fadnavis and Anil Ambani. Union Minister Nitin Gadkari was also present on the occasion.

"We started on June 16, 2015, with first presentation and in less than 10 weeks we got the land. This is a record," Ambani said.

He added that 'Make in India' campaign is encouraging private sector participation.

Reliance Group plans to build Dhirubhai Ambani Aerospace Park (DAAP) in Mihan, a site which was selected after extensive survey of sites in various states.

Mihan was selected over other sites because of its facilities and infrastructure like Medi city, availability of top class managers, proximity to IIM, disciplined work culture, airfield and air space for flight tests, proximity to international airport, excellent telecommunications connectivity and social infrastructure among others, company officials said.

The group plans to set up Assembly lines and manufacturing facilities of fixed wing aircrafts, aerostructure for commercial transport aircraft and helicopters for both defence and commercial use.

The park will also house ancillary and component manufacturing units to support after sales requirement, the officials said.

It is estimated that the Park will create 1,500 jobs in the primary sector, around 3,500 in the secondary and 5,000 in the tertiary sector respectively.

The group also has plans to set up a Centre of Excellence for Design Technology and Manufacturing.

To be developed on the lines of Smart City layout, DAAP will offer "One Stop Hub" for all the aerospace requirements, the officials said adding that they are hopeful that global original equipment manufacturers in defence and aerospace platforms and components will set up shops in DAAP.

Maharashtra Chief Minister appreciated that Reliance had chosen Mihan for this Rs 6,500-crore investment.

The aircraft manufacturing major Boeing was exploring the possibility of re-entering into Maintenance Overhaul Repair (MRO) business with a tie-up with some international airline after it handed over the MRO in Mihan to Air India and withdrew, Fadnavis said.

He had requested Boeing to come back which they had accepted in principle, the CM said.

Fadanvis described Anil Ambani as "brand ambassador" of Mihan.

Gadkari expressed his happiness over the entry of Reliance Aerostructure and thanked Anil Ambani for accepting his suggestion to set up a factory in Mihan.

Maharashtra industries minister Subhash Desai and energy minister Chandrashekhar Bawankule were also present.

Source :
Date : Aug 29, 2015