Shares of Reliance Infrastructure Ltd hit a 5% upper circuit on 18 June after the company announced signing a strategic agreement with Dassault Aviation to produce Falcon 2000 business executive planes in India through its subsidiary, Reliance Aerostructure Limited.

In its regulatory filing, the company said, “Dassault Aviation and Reliance Infrastructure subsidiary, Reliance Aerostructure Limited (RAL) today at the Paris Air Show announced a landmark strategic partnership to manufacture Falcon 2000 business executive jets in India for the global markets. The partnership represents a significant step in advancing India’s aerospace manufacturing capabilities.”

Dassault Aviation will produce Falcon 2000 aircraft outside of France for the first time.

The company added, “This pioneering initiative will see India emerge as a strategic center for high-end business jet manufacturing. It marks a historic moment for Indian aerospace and manufacturing industry, as the landmark agreement paves way for India’s entry into the elite club of countries producing next-generation business jets, alongside the United States, France, Canada, and Brazil.”

DRAL will also serve as Dassault Aviation’s Center of Excellence (CoE) for the Falcon series, including the Falcon 6X and Falcon 8X assembly programs, the first of its kind outside of France.  The state-of-the-art, final assembly line for Falcon 2000 jets will be established in Nagpur, Maharashtra, said Reliance Infra.

Anil D. Ambani, Founder Chairman of Reliance Group, said, “Our partnership with Dassault Aviation represents a landmark in Reliance Group’s journey, as we work together to firmly position India as a vital hub in the global aerospace value chain. This collaboration is a powerful expression of our commitment to Prime Minister Narendra Modi’s vision of ‘Atmanirbhar Bharat’ (Self-Reliant India), and ‘Make in India for the World’ initiative, showcasing India’s capability to build and deliver next-generation business jets for global markets. The ‘Made in India’ Falcon 2000 will stand as a proud symbol of the nation’s technological prowess and manufacturing excellence”.

In 2017, Dassault Aviation and Reliance Aerostructure formed a joint venture known as DRAL. Later that year, the company began operations with the construction of a cutting-edge manufacturing plant in Mihan, Nagpur.  

Since delivering the first Falcon 2000 front part in 2019, DRAL has produced over 100 main sub-sections for the Falcon 2000, demonstrating its world-class precision manufacturing capabilities and playing an important role in Falcon’s worldwide production program.

DRAL expects to hire several hundred engineers and technicians over the next decade to support its growing operations.

At 2:03 pm, the shares of Reliance Infrastructure were locked 5% higher at Rs 386.50 on NSE.

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