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Boeing-Airbus plan big India investments
By agencies
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Wednesday, 30 August 2006, 19:30 IST
NEW DELHI: Two of the worldÂ’s largest aircraft makers-Boeing and Airbus are planning massive investments in India to build maintenance centers and training facilities.
The two majors are battling in the fiercely competitive Indian market to gain an upper hand as newer airlines are starting every quarter and place huge aircraft orders.
On Tuesday, EADS, the company that owns Airbus announced it will invest $2.6 billion in India over the next 15 years to set up technology center and an engineering unit.
Not to left behind, American giant Boeing, said it will invest $100 million to set up a maintenance, repair and overhaul facility in the Western Indian state of Maharashtra.
Boeing also said India will buy $72 billion worth of planes over the next 20 years to keep pace with the boom in air travel.