Home » Business » Reliance might deposit scarcely $1 billion in aerospace business: paper

Reliance might deposit scarcely $1 billion in aerospace business: paper


NEW DELHI |
Sat Jul 28, 2012 2:40am EDT

NEW DELHI (Reuters) – Reliance Industries (RELI.NS), India’s third-most profitable company, is approaching to deposit tighten to $1 billion over a subsequent few years in a aerospace division, a Economic Times reported on Saturday, citing unnamed executives tighten to a matter.

The company, tranquil by India’s richest male Mukesh Ambani, might sinecure about 1,500 people and combine with tellurian players to move worldly polite and troops aerospace technologies to India, a paper said.

A Reliance Industries orator declined comment, when contacted by Reuters.

Reliance Industries this month practical for a supervision permit to pattern and make apparatus for troops and municipal aircraft as good as unmanned airborne vehicles, a paper said.

For a journal story, see link.reuters.com/qus69s

Reliance aims to double a handling distinction in a subsequent 4 to 5 years as it boosts spending and ability in a core appetite business and builds adult a sell and telecoms operations.

(Writing by Devidutta Tripathy; Editing by Sanjeev Miglani)

Source: Article Source


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