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Reliance Industries May Invest $1 Billion in Aerospace Business Plan -Report

India's Reliance Industries Ltd. (500325.BY) is expected to invest close to $1 billion over the next few years into its new aerospace business and recruit around 1,500 staffers for it, the Economic Times newspaper reported Saturday, citing unnamed executives close to the development. The company, led by billionaire Mukesh Ambani, earlier this month applied for an industrial license with the Department of Industrial Policy and Promotion. The application has indicated Nashik, a city in the western state of Maharashtra, to be the location of the headquarters for the aerospace division that would design, develop and manufacture equipment and components for military and civilian aircraft, the report stated. Previously, RIL created two companies, Reliance Aerospace Technologies Pvt. Ltd. and Reliance Security Solutions Ltd. It had also hired then-Boeing India chief Vivek Lall for launching its aerospace and homeland-security division, the report said. Newspaper website: http://www.economictimes.com Write to djn.in@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Boeing (BA)
DateTimeHeadline
02/08/201619:19:00Boeing Supports ICAO Aircraft CO2 Emissions Standard
02/07/201620:30:00Airbus Switches Engine Type for First A321neo Flight
02/07/201614:42:00Airbus Switches Engine Type for First A321neo Flight
02/03/201614:18:00Spirit AeroSystems Set to Adjust to Jet Makers' Output Changes
02/03/201612:00:00Boeing May Deliver 737 Max Ahead of Target
02/03/201611:51:00Boeing May Deliver 737 Max Ahead of Target
02/02/201623:28:00Boeing Delivers First 787 Dreamliner to Saudia
02/02/201605:59:00Boeing Tells Customers 737 Max May Arrive Early
02/01/201606:00:00UTC Aerospace Systems and Boeing celebrate the first flight of...
01/29/201619:05:00Boeing Test Flies New 737 Max Aircraft -- Update
01/29/201618:31:00Boeing Gets Contract for Development Work on New Air Force One...
01/29/201617:06:00Boeing Completes Successful 737 MAX First Flight
01/29/201614:50:00Boeing Test Flies New 737 Max Aircraft
01/29/201614:39:00Boeing Test Flies New 737 Max Aircraft
01/29/201605:00:00Boeing, SWISS Celebrate Delivery of Airline's First 777-300ER
01/28/201620:30:00United Continental Plans San Francisco-Singapore Nonstop Routes
01/28/201618:00:00Boeing, Air Lease Corporation Celebrate Next-Generation 737 Delivery...
01/28/201616:26:00Boeing, Xiamen Airlines Celebrate Milestone 8,888th 737 Delivery
01/28/201616:20:00Rolls-Royce to Cut More Jobs
01/28/201610:08:07Current Report Filing (8-k)

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