RIL to Invest $1B in Aerospace

An investment of close to $1B and a hiring of around 1,500 people, Reliance Industries Ltd (RIL) is all set to go big with its new aerospace division.

An Indian newspaper quoted some RIL executives who confirmed the details of RIL’s plans.

The Mukesh Ambani-led company had applied for an industrial licence earlier this month with the Department of Industrial Policy and Promotion to "design, develop, manufacture, equipment and components, including airframe, engine, radars, avionics and accessories for military and civilian aircraft, helicopters, unmanned airborne vehicles and aerostats".

RIL has already created two new entities - Reliance Aerospace Technologies Pvt Ltd and Reliance Security Solutions Ltd. The company has also hired the then Boeing India chief, Vivek Lall, for launching its aerospace and homeland security divisions.

Reportedly, the company plans to undertake research and produce new aerospace technologies, materials, components and equipment and test and carry out their certification.