Reliance Industries May Invest $1 Billion in Aerospace Business Plan -Report

Date : 07/28/2012 @ 4:29AM
Source : Dow Jones News
Stock : Boeing Company (The) (BA)
Quote : 183.23  1.17 (0.64%) @ 12:14PM

Reliance Industries May Invest $1 Billion in Aerospace Business Plan -Report

Boeing (NYSE:BA)
Historical Stock Chart

5 Years : From Apr 2012 to Apr 2017

Click Here for more Boeing Charts.

India's Reliance Industries Ltd. (500325.BY) is expected to invest close to $1 billion over the next few years into its new aerospace business and recruit around 1,500 staffers for it, the Economic Times newspaper reported Saturday, citing unnamed executives close to the development.

The company, led by billionaire Mukesh Ambani, earlier this month applied for an industrial license with the Department of Industrial Policy and Promotion.

The application has indicated Nashik, a city in the western state of Maharashtra, to be the location of the headquarters for the aerospace division that would design, develop and manufacture equipment and components for military and civilian aircraft, the report stated.

Previously, RIL created two companies, Reliance Aerospace Technologies Pvt. Ltd. and Reliance Security Solutions Ltd. It had also hired then-Boeing India chief Vivek Lall for launching its aerospace and homeland-security division, the report said.

Newspaper website: http://www.economictimes.com

Write to djn.in@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires





Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.