An agreement was exchanged between Boeing India Ltd and Aerospace Engineers Ltd in the presence of Chief Minister MK Stalin at the Secretariat on Monday. Ashwani Bhargava, managing director (distribution) of Boeing India Ltd, handed over the order to R Sundaram, chief executive officer of Aerospace Engineers Ltd.
Describing the first of its kind deal as a ‘milestone’ which is a part of the “Made in Tamil Nadu” initiative mooted by Stalin, an official communique from the government said the deal was testimony to the State’s MSME standards, accuracy and dedication to joint ventures and it would offer a fillip to aerospace and defence related industries in Tamil Nadu defence corridor.
Talking to media persons at the Secretariat, R Sundaram took pride in his MSME becoming a tier-I supplier of Boeing on a long term contract basis and said about 2,500 components would be manufactured by them and supplied to Boeing for civil aircraft from February 2022.
Proposing to invest Rs 150 crore for the venture, he said about 400 people are working in the Salem unit and around 1,000 people would be employed after its expansion to 50,000 sqft and establishment of a new 1.25 lakh sqft plant at Hosur.
Attributing the successful signing of the deal to Stalin, he said, “the credit really goes to Tamil Nadu Chief Minister. Last week he announced the “Made in Tamil Nadu” initiative. It will be a big boon to TN. We will manufacture under the Made in TN label for the globe.”