Shares of Reliance Infrastructure hit 5% upper circuit on June 18 after the firm announced its subsidiary Reliance Aerostructure Limited announced a strategic partnership with Dassault Aviation to manufacture Falcon 2000 business executive jets in India.
"Dassault Aviation and Reliance Infrastructure subsidiary, Reliance Aerostructure Limited (RAL) today at the Paris Air Show announced a landmark strategic partnership to manufacture Falcon 2000 business executive jets in India for the global markets. The partnership represents a significant step in advancing India’s aerospace manufacturing capabilities," said Reliance Infra in a stock exchange filing.
Dassault Aviation will manufacture Falcon 2000 jets outside of France for the first time.
"This pioneering initiative will see India emerge as a strategic center for high-end business jet manufacturing. It marks a historic moment for Indian aerospace and manufacturing industry, as the landmark agreement paves way for India’s entry into the elite club of countries producing next-generation business jets, alongside the United States, France, Canada, and Brazil," added RInfra.
At 2:13 pm on June 18, Reliance Infra shares were trading at 5% upper circuit at Rs 386.5 apiece.
DRAL will also become the Center of Excellence (CoE) for Falcon series, including Falcon 6X and Falcon 8X assembly programs for Dassault Aviation, the first such CoE outside France. The state-of-the-art, final assembly line for Falcon 2000 jets will be established in Nagpur, Maharashtra, said Reliance Infra.
Eric Trappier, Chairman and CEO, Dassault Aviation said, ‘'This new agreement, which will make DRAL the first centre of excellence for Falcon assembly outside France and which will eventually enable the establishment of a final assembly line for the Falcon 2000, illustrates, once again, our firm intent to meet our ‘Make in India’ commitments, and to contribute to the recognition of India as a major partner in the global aerospace supply chain. It marks the ramp-up of DRAL, in line with the strategic vision shared with our partner Reliance, which led to its creation in 2017 and is a testament to our unwavering belief in our future in India and serving India."
Anil D. Ambani, Founder Chairman, Reliance Group said, “Our partnership with Dassault Aviation represents a landmark in Reliance Group’s journey, as we work together to firmly position India as a vital hub in the global aerospace value chain. This collaboration is a powerful expression of our commitment to Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’ (Self-Reliant India), and ‘Make in India for the World’ initiative, showcasing India’s capability to build and deliver next-generation business jets for global markets. The ‘Made in India’ Falcon 2000 will stand as a proud symbol of the nation’s technological prowess and manufacturing excellence”.
The joint venture between Dassault Aviation and Reliance Aerostructure - DRAL was established in 2017. The operations commenced with the setting up of a state-of-the-art manufacturing facility at Mihan, Nagpur, later that year. Since delivering its first Falcon 2000 front section in 2019, DRAL has assembled over 100 major sub-sections for the Falcon 2000, underscoring its world-class precision manufacturing capabilities and playing an integral role in Falcon global production program.
DRAL is expected to recruit several hundred engineers and technicians over the next decade to support its expanding operations.
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