Companies news
Safran To Set Up Unit In Telangana
The firm and TS government sign MoU in New Delhi
Safran Electrical & Power, a global leader in electrical systems in aeronautics, would set up a unit for electrical wiring interconnection systems in Telangana.
The manufacturing facility, to be set up with an investment of Rs. 52 crore in the Special Economic Zone of Hyderabad airport, is expected to create over 250 employment opportunities, said an official release on an MoU the firm and the Telangana government signed on Saturday.
Safran CEO Philippe Petitcolin and Telangana Industries Secretary Jayesh Ranjan signed the MoU in the presence of French Foreign Affairs Minister M.Le Drian, Union Commerce Minister Suresh Prabhu and Telangana IT and Industries Minister K.T. Rama Rao, at the Indo-French Economic Partnership signing ceremony in New Delhi.
“In the next twelve months, Safran Electrical & Power will deliver the first LEAP electric harnesses made in India and destined for the flourishing of narrow-body aircraft market,” the Safran Group said in a separate release. The Hyderabad facility would be an integral part of the Group’s strategy to establish itself in India to serve an “extremely buoyant local market as well as the existing European and American markets”.
Mr. Petitcolin said, “The new facility reasserts our commitment to products made in India and it completes our industrial grid in the region with a new, high performance production site.” Employing more than 13,000 people in 12 countries, Safran Electrical & Power is a part of the EUR 16.5 billion French multinational Safran Group that operates in the aircraft propulsion and equipment, space and defence markets.
