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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
07/28/201604:30:00Rolls-Royce Posts Big First-Half Loss
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07/27/201615:57:00Boeing Considers Ending Production Of Iconic 747
07/27/201613:25:00Boeing Swings to Loss, but Results Still Top Views -- 2nd Update
07/27/201613:06:00Boeing Swings to Loss, but Results Still Top Views -- Update
07/27/201612:14:13Quarterly Report (10-q)
07/27/201609:22:00India Orders Four More Boeing Maritime Planes for $1 Billion
07/27/201609:20:00U.S. Durable Orders Dropped in June by Most in Nearly Two Years
07/27/201609:10:00Boeing Swings to Loss, but Results Still Top Views
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07/27/201608:10:00Northrop Grumman Tops Views, Raises Outlook Again
07/27/201608:00:52Current Report Filing (8-k)
07/27/201607:59:00Northrop Grumman Tops Views, Raises Outlook Again
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07/27/201605:59:00Aviation Offers Lesson for Car Makers' Rush to Automation
07/27/201605:20:00China Southern Air's Unit Xiamen Air to Buy Six B787-9 Aircraft...
07/27/201605:10:00Correction to Malaysia Aircraft Article
07/27/201602:40:00Malaysia Airline, Boeing Announce a Deal for 50 737 Boeing MAX...
07/25/201621:50:00Boeing Is 'Delinquent' on Payments, Says Supplier Rockwell Collins
07/25/201620:20:00Boeing Is 'Delinquent' on Payments, Says Supplier Rockwell Collins

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