US firm plans India`s first pvt aircraft unit

By SiliconIndia   |   Friday, 27 August 2004, 07:00 Hrs
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MUMBAI: Leading private aircraft maker Maverick Jet is exploring investment opportunities in India. The company wants to set up an aircraft manufacturing facility with an investment of over $1 billion in three years, reports Business Standard.

The newspaper quoting sources said that a top level team from the company will be visiting India to evaluate the feasibility of investing here. This will be the first aircraft manufacturing project that will be set up in India.

“The company has shown interest in the country. We expect them to visit some of the sites and take a final decision,” said an official. Sources told the newspaper that India was among the two countries where the company wanted to invest in setting up a manufacturing facility.

As per the plans, the company’s manufacturing facility will start on a pilot basis, which will be ramped up over a period of three years. In the initial phase, Maverick will manufacture about 24 jets on a pilot basis, which will go to 600 jets in three years.

For aircraft manufacturing, Maverick Jet will source components from across the globe. “The company will bring aircraft components from across the globe and will assemble the aircraft here. This manufacturing facility will service the global market,” said a source associated with the project.

It is understood that the company wants to start the operations immediately as it expects an increase in demand for personal jets around the world. It was also pointed out that the cheap labour in India is one of the major factors for the company’s interest in India.

The US-based Maverick Jet makes small private jets, with low seating capacity. The company, now, has its manufacturing facility in the US. It, however, is not clear what percentage of the global manufacturing will be moved to the country after it sets up the manufacturing facility.

One of the states that wants to woo the aircraft maker to the country is Uttaranchal.

“We have received preliminary enquiries from the company. We expect them to visit the state soon and finalise the plans,” Sanjeev Chopra, industry secretary, Uttaranchal told Business Standard.

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