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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
04/29/201611:00:00Boeing Investor Conference to be Webcast May 11
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04/28/201616:18:00SpaceX Wins U.S. Military Contract to Send Satellite Into Orbit
04/28/201611:05:00Ex-Im Bank Faces New Hurdle as Senator Blocks Board Nominees
04/28/201610:00:00Boeing Honors 12 Suppliers for Outstanding Performance in 2015
04/28/201609:52:00China Eastern Orders $10 Billion of New Planes From Airbus, Boeing
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04/28/201607:50:00Bombardier Confirms Large Delta CSeries Order
04/28/201605:59:00Ex-Im Bank Faces New Hurdle in Congress Over Board Nominees
04/28/201603:03:00Boeing Earnings Fall as Jet Charges Mount -- WSJ
04/27/201618:46:00Boeing Profit Falls as Jet Charges Mount -- 4th Update
04/27/201618:03:00Boeing Profit Falls as Jet Charges Mount -- 3rd Update
04/27/201611:21:00Boeing Profit Falls as Commercial Deliveries Lag -- Update
04/27/201610:01:00Correction to Boeing Earnings Article
04/27/201608:51:00Boeing Profit Falls as Commercial Deliveries Lag
04/27/201608:50:00Correction to Boeing Earnings Story
04/27/201608:40:00Northrop Grumman Tops Expectations, Lifts Year Guidance
04/27/201608:40:00Boeing Profit Falls as Commercial Deliveries Lag

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