Mahindra to manufacture aircrafts soon

The Indian vehicle maker Mahindra is in the advance stage of talks with two Australian aerospace companies to make small aircrafts. This news is released by media. According to the newspaper Mahindra Systech is planing to acquire one aircraft components and going to have a joint venture with the other. The company is planning to built eight and 14 seater planes.

Scorpio is a sports utility vehicle and if this deal is done than the aerospace can be like Scorpio, as Scorpio has given a lot of name and fame to the company. According to India's off-set policy,foreign firms are required to source locally at least 30% of the value of defense equipment contracts exceeding 3 billion rupees. Luthra refused to tell the name of the Australian firms.

According to Luthra all the acquisition will be finalized in the first half of the year,while the joint venture will be decided in a few weeks.