EADS to tie up with HAL, invest €2 billion in India's defence sector

Mumbai: European Aeronautic Defence and Space Company (EADS) will invest €2 billion to set up production and research facilities in India over the next 15 years, the Financial Times Deutschland reported, quoting an EADS spokesperson.

EADS' Eurocopter unit is planning to tie up with Hindustan Aeronautics Ltd (HAL) to develop a new military helicopter, the report said.

The project is likely to be announced during the visit of German economy minister Michael Glos to India next week.

EADS is currently present in India through its Airbus unit, but the group hopes to do business in the field of military technology as well, the report added.

Besides the aircraft manufacturer Airbus and the Eurocopter, the group includes the joint venture missile system manufacturer MBDA. EADS, which is the major partner in the Eurofighter consortium and the prime contractor for the Ariane launcher, develops the A400M military transport aircraft and is the largest industrial partner for the European satellite navigation system Galileo.

EADS emerged from the merger of the German DaimlerChrysler Aerospace AG, the French Aerospatiale Matra and CASA of Spain.

EADS employs about 113,000 people at more than 70 production sites, mostly in France, Germany, the UK and Spain as well as in the US and Australia. It has also a global network of more than 30 representative offices.