Business & Economy

India to buy 56 Airbus military transports in tech-transfer deal

New Delhi, Sep 8 (EFE).- The Indian government announced Wednesday the purchase of 56 Airbus C-295 military transport airplanes, 40 of which will be manufactured in the Asian country by the Tata Consortium.

Sixteen units will be produced in Spain and are to be delivered in flyaway condition within 48 months of the signing of the $2.5 billion contract, the defense ministry said.

While Tata Consortium will have a decade to deliver the other 40 planes.

“This is the first project of its kind in which a military aircraft will be manufactured in India by a private company,” the government said, adding that the program is expected to generate 600 highly skilled positions and 3,000 additional moderately skilled jobs.

Negotiations with Airbus were at an advanced stage six years ago and the first units were expected to be delivered in 2017 and 2018, but financial constraints delayed the transaction, according to Indian media. EFE mt/ta/dr

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