Mumbai: The Hinduja Group on Monday declared it is keen to enter into the aerospace business and they will announce it over the next three months. (Agencies)
Hinduja Automotive, Executive Vice-Chairman, V Sumantran, said, "We will announce our plan (to enter the aerospace business) over the next three-four months.”
"We see a huge potential in the aviation business. We think this (aerospace) sector will continue to grow" he added.
When asked whether the Group wants to manufacture commercial or defence aircraft, Sumantran said "everything you will know over the next 3-4 months".
Talking on the likely investment, he said "it is difficult to talk about it now as we are still in the process of deciding the scale of the business."
Hinduja Group outfit, Defiance Technologies, has already started work on testing and validation for aerospace systems while Ashok Leyland Defence System is doing design and engineering for some sub-systems in India.
Another leading corporation, the Anand Mahindra-led M&M, is also foraying into the aerospace segment through the acquisition of two Australian companies – ‘Aerostaff Australia’ and ‘Gippsland Aeronautics’.
Aerostaff is a 20-year-old manufacturer of aerospace components and assemblies for global aerospace original equipment manufacturers (OEMs) at Port Melbourne in Victoria State.
Mahindra Aerospace Pvt Ltd (MAPL), belonging to the Mahindra group, plans to invest Rs 175-crore over the next 4-5-years to manufacture 475 aircraft in the two-to-twenty-seater range.
Mumbai: The Hinduja Group on Monday declared it is keen to enter into the aerospace business and they will announce it over the next three months.