A high-level delegation of Safran Group, one of the leading original equipment manufacturers of advanced aircraft engines for civil and fighter jets, met Defence Minister Rajnath Singh on Tuesday and announced plans to set up maintenance, repair and overhaul (MRO) facility for commercial airlines in India.
The MRO facility through direct foreign investment of $150 million in Hyderabad is expected to create 500-600 highly skilled jobs, said the Ministry of Defence in a statement following the meeting of Safran Group delegation led by its CEO Olivier Andries with the Defence Minister. The facility will be able to overhaul over 250 LEAP-1A & LEAP-1B engines used by Indian and foreign commercial airlines per year in the beginning, the Ministry stated.
The CEO also briefed the minister of their plan to inaugurate this week Safran Aircraft Engines and Safran Electrical & Power India Pvt Ltd facilities in Hyderabad. Safran-HAL Aircraft Engines as a joint venture will be based in Bengaluru. Safran Aircraft Engine will fetch an investment of €36 million and will be located in the Hyderabad SEZ, it said. It will produce parts and components for advanced aircraft engines including rotating seals.
Cost advantage
Olivier Andries, said ministry officials, outlined his company’s long-term plan in co-development and co-production of advanced jet engines and transfer of technology as per existing policy of Government of India. Welcoming anouncement about new facilities, the Defence Minister emphasised the importance India attaches to the strategic partnership with France.
Singh invited Safran for more co-development and co-production projects in India, in tune with ‘Make in India, Make for the World’ and ‘Aatmanirbhar Bharat’ of the Government of India. “We are a big market. However, we are increasingly focused on making in India for addressing the needs in a competitive manner and supplying to friendly foreign countries. You can leverage all the competitive advantages India offers, including the cost advantages and availability of trained manpower,” he said.