Good news for Anil Ambani as Reliance Infra shares hit 5% upper circuit due to…
Anil Ambani (File)
Shares of Reliance Infrastructure, led by Anil Ambani, surged by 5% and reached the upper circuit at Rs 386 on the BSE on Wednesday. The rally was after the company's announcement of a major aviation partnership. Its subsidiary, Reliance Aerostructure Limited, has partnered with French aerospace giant Dassault Aviation to manufacture Falcon 2000 business jets in India.
The announcement, made at the Paris Air Show, marks the first instance of Falcon 2000 jets being produced outside of France. In a move that signifies a major leap for India's aerospace manufacturing capabilities, the collaboration will establish a final assembly line for the Falcon 2000 jets in Nagpur, Maharashtra.
When the Nagpur facility starts, India will join the elite club of countries producing business jets after the United States, France, Canada and Brazil.
'Dassault Aviation and Reliance Infrastructure subsidiary, Reliance Aerostructure Limited (RAL) today at the Paris Air Show announced a landmark strategic partnership to manufacture Falcon 2000 business executive jets in India for the global markets,' the firms said in a statement.
The Dassault Falcon 2000 is a versatile and efficient twin-engine business jet. It can typically accommodate 8 to 10 passengers.
With over 10,000 military and civil aircraft (including 2,700 Falcons) delivered in more than 90 countries over the last century, Dassault Aviation has built up expertise recognised worldwide in the design, production, sale and support of all types of aircraft, ranging from the Rafale fighter, to the high-end Falcon family of business jets, military drones and space systems.
The joint venture between Dassault Aviation and Reliance Aerostructure (DRAL) was established in 2017. The operations commenced with the setting up of a state-of-the-art manufacturing facility at Mihan, Nagpur, later that year.
Since delivering its first Falcon 2000 front section in 2019, DRAL has assembled over 100 major sub-sections for the Falcon 2000, underscoring its world-class precision manufacturing capabilities and playing an integral role in the Falcon global production program.
The partnership represents a significant step in advancing India's aerospace manufacturing capabilities.
'This pioneering initiative will see India emerge as a strategic centre for high-end business jet manufacturing,' the statement said. 'It marks a historic moment for Indian aerospace and manufacturing industry, as the landmark agreement paves way for India's entry into the elite club of countries producing next-generation business jets, alongside the United States, France, Canada, and Brazil.'
DRAL will also become the centre of excellence (CoE) for Falcon series, including Falcon 6X and Falcon 8X assembly programs for Dassault Aviation, the first such CoE outside France.
Eric Trappier, Chairman and CEO, Dassault Aviation said, 'This new agreement, which will make DRAL the first centre of excellence for Falcon assembly outside France and which will eventually enable the establishment of a final assembly line for the Falcon 2000, illustrates, once again, our firm intent to meet our 'Make in India' commitments, and to contribute to the recognition of India as a major partner in the global aerospace supply chain.'
It marks the ramp-up of DRAL, in line with the strategic vision shared with partner Reliance, which led to its creation in 2017 and 'is a testament to our unwavering belief in our future in India and serving India,' he said.
Anil D Ambani, founder chairman, Reliance Group, said, 'Our partnership with Dassault Aviation represents a landmark in Reliance Group's journey, as we work together to firmly position India as a vital hub in the global aerospace value chain.'
The 'Made in India' Falcon 2000 will stand as a proud symbol of the nation's technological prowess and manufacturing excellence, he said.
Dassault Aviation will also transfer the assembly of the front section of Falcon 8X and Falcon 6X, in addition to the wings and complete fuselage assembly of Falcon 2000 to DRAL. The transfer of assembly operations combined with major facility upgrades will pave the way for the first flight of Falcon 2000 'Made in India' from Indian soil by 2028.
(With Inputs From PTI)
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