Hyderabad News.FIPB approves Helicopter Unit at Adibatla, Hyderabad by Indian Rotorcraft Ltd (JV of TATA and Augusta Westland)
Hyderabad News. BS 14.10.2015
(Excl Ventures News.)Adibatla will soon have one more Tata Helicopter factory apart from the existing Tata - Sikorsky factory.
The Foreign Investment Promotion Board (FIPB) has cleared the proposal for chopper assembling unit up by the Indian Rotorcraft Ltd (IRL), a joint venture between AgustaWestland and Tata Sons Limited.
"M/s lndian Rotorcraft Ltd, Mumbai has sought approval for (i) to incorporate the helicopter model as AW 119Kx in place of AW 119Ke, (ii) To change the foreign investor from M/s AgustaWestla nd N.V., The Netherlands to M/s AgustaWestland S,p.A, Italy as M/s Agustawestland N.V., The Netherlands merged into M/s AgustaWestland S.P.A, Italy, pursuant to an internal re-organisation through merger within the AgustaWestland group w.E.F January 1, 2014," FIPB said while granting the approval.
"IRL, the Joint Venture with AW (AgustaWestland), is for assembling AW119Kx helicopters. IRL will export the assembled helicopters to AW for it to sell to its customers. The Joint Venture is yet to begin operations. IRL has no connections with the Indian Air Force purchase of AW101 helicopters," the spokesperson had said in an email reply.
IRL sought the FIPB clearance for changing the model of the helicopter to undertake final assembly of Agustawestland''s helicopter for export to global consumers or offered to India civil market. Comment :
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