On Thursday, in Hyderabad, Defence Minister Nirmala Sitharaman inaugurated a new aerospace joint venture (JV) between Boeing and Tata, which will build fuselages of the famous AH-64E Apache attack helicopter.
Tata Advanced Systems Ltd (TASL) has a majority 51% stake in the new JV, named Tata Boeing Aeronautics Ltd (TBAL). Boeing holds the remaining 49% – the maximum foreign stake permissible in defence companies under the automatic route.
The brand new, 14,000-square metre TBAL facility in Hyderabad, which will employ 350 highly skilled workers, will deliver its first Apache fuselage to Boeing this year. Production will progressively ramp up until