Source: Times of India, Feb 08, 2011
BANGALORE: Mahindra Aerospace, part of the $7.1-billion Mahindra Group, has got Board approval to invest Rs 285 crore to set up a 25-acre aerospace facility in Bangalore. The company is considering setting up the facility in Narsapur, near Bangalore.
“We want to make use of the aerospace ecosystem in Bangalore and the infrastructure resource pool in this area to expand,” said Anand Mahindra, vice chairman & MD of Mahindra & Mahindra. The company already has a 5-acre property in Malur where it’s setting up a Rs 35-crore facility. The firm needs the bigger facility to emerge an indigenous player with design, engineering and manufacturing capabilities. The new facility is expected to be operational in the next 15 months. The company may retain the Malur facility to manufacture aircraft components.
The company has designed a 5-seater turboprop aircraft along with the state- run National Aerospace Laboratories (NAL). The prototype codenamed NM5 is currently assembled in Australia. “Once it is proven and tested, we will get into manufacturing. We already have one customer. However, light and modest and small the plane is, it’s one small step for aerospace, a large step for Mahindra,” Mahindra said. The five-seater light civilian aircraft is expected to cost 20% less than a Cessna. Turboprops make up 4,500 out of 5,000 general aviation aircraft sold worldwide annually, according to research firm AT Kearney