EADS to invest $2.57 bn

European aerospace major EADS plans to invest two billion euros ($2.57 billion) in India over the next 15 years in various operations like production and setting up of research and development facilities.

The company is expected to announce details about its investment plans during the visit of its CEO Thomas Enders to India next week, EADS spokesperson Gregor V Kursell told PTI in an email interview.

Enders will be part of a delegation accompanying German Economics Minister Michael Glos, who is scheduled to visit the country next week.

Regarding the company's plans to develop a new army helicopter in India, Kursell said talks were underway between Hindustan Aeronautics Limited and its Eurocopter subsidiary about the joint development of a 10-tonne class helicopter.

However, no agreement has been reached yet and there would not necessarily be an annoucement on this matter during the Enders' visit to India, Kursell said. The European aerospace and defence major already has one Airbus branch office and an EADS office in India.

The company's commercial jet aircraft division Airbus expects to gain at least half of the Indian aircraft market. Airbus expects airlines in India to acquire up to 600 aircraft with a total worth of over $60 billion before 2023.