French aviation giant Safran Group will set up a maintenance, repair and overhaul (MRO) facility for its aircraft engines in Hyderabad at an initial investment of USD 150 million (around Rs 1,200 crore).
- The French multinational is a major player in the aerospace and defence sector and is known for its designs, development and manufacture of aircraft engines and rocket engines. The facility will be created through a 100% Indian subsidiary route.
- It will service some 330 engines used by Indian commercial carriers, and Safran-GE (General Electric) joint venture engines from other countries in South Asia, West Asia and Africa.
- The French company is the supplier of the M88 engine for the 26 Rafale multi-role fighters that were recently acquired by IAF, and is also the number one helicopter engine supplier to India.
- After a meeting between Defence Minister Rajnath Singh and Safran CEO Olivier Andries, it was announced that the joint venture in Bengaluru will produce engines for helicopters, while the French company will also set up an MRO facility for Indian and foreign commercial aircraft.
- The MRO (maintenance, repair and overhaul) facility to be established in Hyderabad through foreign direct investment of USD 150 million will be for the LEAP-1A and LEAP-1B engines being used in aircraft by both Indian and foreign commercial airlines.
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