Hero Motors to invest Rs 500 cr on aviation foray

Agencies
Posted: 2008-09-01 16:45:57+05:30 IST
Updated: Sep 01, 2008 at 1645 hrs IST

Font Size

Feedback

Discuss

IT firms Q1 net seen up, prospects cloudy IT firms Q1 net seen up, prospects cloudy Satyam probe: Raju's remand extended till July 22 Govt not a party in gas dispute case: RNRL

New Delhi, September 1: : The Munjals-promoted two-wheeler maker Hero Motors on Monday announced its foray into the aviation sector with an investment of Rs 500 crore as part of its diversification plans.

The company plans to develop a 300-acre Special Economic Zone, further expandable by another 100 acres, for aerospace and defence industry, the location for which is yet to be finalised.

"We are working on global defence industries to put up their own facilities or strategic alliance with Indian partners in our SEZ and to begin with we are putting up our own Light Sport Aircraft (LSA) manufacturing facility in technical collaboration with world class European player," Hero Aviation Vice Chairman and CEO Pankaj Munjal said.

Hero Motors will make a direct investment of Rs 500 crore for various activities in the aviation sector, which include manufacturing of light sports aircraft (LSA), aircraft and aerospace applications, besides setting up aviation training institutes and colleges.

These activities are proposed to be taken up inside its planned SEZ, which will also house a private airfield of 1.5 km.

Discuss this story on expressindia forums

Post Comments

Comments: (Limit 3,000 characters)

Name		Message
Email ID
Subject

TERMS OF USE:
The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).

I agree to the terms of use.

Latest News

Print Edition

Events

Hero Motors to invest Rs 500 cr on aviation foray

Post Comments