The Tata group, which is setting up a Sikorsky S-92 helicopter cabin manufacturing plant at the Aerospace and Precision Engineering Special Economic Zone at Adibatla near here, has formed a joint venture with Israel Aerospace Industries (IAI) for setting up defence aerospace manufacturing facilities in the same SEZ.
The JV — Nova Integrated Systems (NIS) Limited — would design, manufacture and integrate advanced defence and aerospace systems with transfer of technology from IAI. The project would see an initial FDI of $50 million (about Rs 250 crore).