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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
08/27/201509:00:00Boeing Completes 777X Firm Configuration
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08/26/201517:33:00Boeing Settles Lawsuit Accusing Company of Mishandling 401(k...
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08/25/201516:03:00Boeing, Korean Air Celebrate the Delivery of Airline's First...
08/25/201513:13:00Boeing Fights Class Action Over 401(k) Plan
08/25/201512:52:00Boeing Fights Retirement-Plan Class Action
08/25/201503:23:00Boeing Sees Demand in China for 6,330 Airplanes Valued at Nearly...
08/24/201522:00:00Boeing to Lay Off Hundreds of Workers at Satellite Business
08/24/201521:50:00Boeing to Lay Off Hundreds of Workers at Satellite Business...
08/24/201521:34:00Boeing to Lay Off Hundreds of Workers at Satellite Business
08/22/201508:29:00Ex-Im Bank's Lack of Charter Cited in Boeing Contract Loss
08/21/201519:14:00Boeing Delivers Nok Air's First Direct-Purchased Next-Generation...
08/20/201518:00:00Boeing, Supplier Wrestle to Produce Key Component
08/20/201517:41:00Boeing, Supplier Wrestle to Produce Key Component
08/20/201517:26:00Boeing, Sriwijaya Air Celebrate Double Delivery of Next-Generation...
08/17/201517:40:00FAA Hits Southwest Airlines With Proposed $325,000 Fine
08/17/201517:38:27Initial Statement of Beneficial Ownership (3)

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