Airbus to invest #1 bn in India
The investment over a period of 15-years may create up to 2,000 jobs in engineering and IT-related services.india Updated: Sep 04, 2006 18:44 IST
The parent group of passenger jet maker Airbus is to invest more than £1 billion in India in a bid to secure more orders for military equipment and passenger jets, reports here say.
European Aeronautic, Defence and Space (EADS) Company, the majority owner of Airbus, will invest the money on an engineering centre in India as part of its bid to compete with US rival Boeing for orders in the Indian sub-continent.
According to the company, the India Airbus Engineering Centre may create up to 2,000 jobs in engineering and computer-related services.
The money will be invested over the next 15 years as Indian state-owned military contractors grant more orders to private companies for military equipment, according to the Daily Post, Liverpool.
The newspaper reported that EADS is also seeking to gain more orders in India's rapidly expanding civil aviation industry, which it believes will require 960 aircraft by 2025.