PM Narendra Modi
Credit: @NarendraModi/YT via PTI Photo
Hyderabad: Prime Minister Narendra Modi on Wednesday virtually inaugurated French major Safran's Maintenance, Repair and Overhaul facility for aircraft engines here, and said that the country is a trusted partner for investors.
The PM described investors as co-creators. He highlighted various reforms initiated by the government, including the new labour code.
The new facility meant for LEAP engines used in commercial aircraft will also help provide job opportunities for the youngsters, the PM said.
The country's civil aviation sector is growing at a fast pace, Modi said, and urged Safran to explore design of aircraft engines, components and propulsion systems in the country.
The Safran Aircraft Engine Services India (SAESI) facility is the world's largest MRO unit for LEAP engines.
The SAESI facility in the city will be operational in 2026 and will be a major boost for the country's indigenous capabilities in the fast-growing aviation sector.
The facility, set up with an initial investment of Rs 1,300 crore, is for the Leading Edge Aviation Propulsion (LEAP) engines, which power the narrow-body Airbus A320 Neo and Boeing 737 MAX aircraft.
LEAP engines are manufactured by CFM International, an equal joint venture between Safran Aircraft Engines and GE Aerospace.
India is one of the world's fastest growing civil aviation markets and domestic carriers have placed orders for over 1,500 planes.
Designed to service up to 300 LEAP engines annually, SAESI facility will employ over 1,000 highly skilled Indian technicians and engineers upon achieving full operational capacity by 2035, the Prime Minister's Office (PMO) had said in a release on Tuesday.
It had also said that developing indigenous capabilities in MRO will reduce foreign exchange outflows, create high-value employment, strengthen supply-chain resilience and position India as a global aviation hub.