TATA Group made 56 C-295 military cargo aircraft: The Tata Group and Airbus on Friday signed a Memorandum of Understanding (MoU) for the manufacture of the C-295 military cargo aircraft for the Indian Air Force. This is the largest ever private sector contract for production of military equipment, valued at around Rs 22,000 crore.
TATA Group made 56 C-295 military cargo aircraft
Ratan Tata, Chairman, Tata Trusts has congratulated the Ministry of Defense for paving the way for the partnership agreement between Tata Advanced Systems Limited and Airbus Defense and Space. “This is a major step towards opening up India’s airspace,” he said in a statement.
56 C-295 military cargo aircraft
A total of 56 C-295 military cargo aircraft from Airbus Defense and Space will enter the country’s air force. However, 40 of the 56 aircraft will be built in India. As per the agreement, the first 16 aircraft will be supplied by Airbus Defense from Spain. The remaining 40 aircraft are owned by Tata Advanced Systems Limited.
It will be manufactured in India by this company. In this regard, both have entered into an industrial partnership.
New aircraft will replace the Avro 748
The new aircraft will replace the Avro 748 currently owned by the Air Force. The agreement was signed two weeks after the cabinet committee headed by the prime minister approved it.
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Sukaran Singh, Managing Director and Chief Executive Officer, Tata Advanced Systems Limited said that this agreement is a proud moment for the Tata Group and will be a milestone in the field of Indian military manufacturing.
25 thousand job creation
The C-295 is the first multi-role aircraft to be manufactured in India and its design and other features meet the versatile needs of the Indian Air Force. Ratan Tata said that an international standard supply chain will be established in India on the occasion of the aircraft manufacturing project, which may not have existed earlier.
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Direct and indirect employment generation will get a big boost. According to Michael Scholhorn, CEO of Airbus Defense and Space, the project will create 15,000 direct and 10,000 indirect jobs over ten years.
Rs 22,000 crore MoU with Airbus to build efficient supply chain in the country: Ratan Tata