Mumbai: Boeing Co will invest $118 million to set up a Maintenance, Repair and Overhaul (MRO) facility in Maharashtra as part of the US aerospace firm's India commitments, following the Rs 35,000 crore deal with Air India.
The venture, to be set up near Nagpur will serve as MRO facility to the Boeing family of airplanes for the entire South East Asia.
"The MRO will be set up in 25-50 acres of land belonging to the Airports Authority of India. AAI will transfer the land to Maharashtra Airport development Authority, which is developing an international cargo hub in Nagpur," a top Government official said.
Boeing had received proposals from six Indian states including, West Bengal and Karnataka for the facility.
"Boeing requested their center should be near the air strip in Nagpur. The MRO facility has been finalised by the industrial department of state government during Chief Minister Vilasrao Deshmukh's visit to Boeing Head Quarters in Chicago," the official said.
While announcing its largest ever deal for purchase of 68 aircraft with Air India, Boeing said it will set up the MRO facility in the country, besides offset deal worth Rs 8,500 crore, enabling the Indian firms to participate in aircraft development programme.
Maharashtra Government has already cleared the international passenger and cargo hub project. Maharashtra Airport Development Corporation will hold 51 per cent stake in the venture while rest will be owned by Airport Authority of India.
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