Dassault opens Indian subsidiary for Rafale deal1 min read . Updated: 28 Nov 2012, 08:26 PM IST
Dassault Aircraft Services India Private Limited was set up recently and is 100% owned by its parent company
New Delhi: After bagging the multi-billion dollar contract for supplying 126 Rafale fighter aircraft to the Indian Air Force (IAF), French Dassault Systems has opened a subsidiary company here.
The company named Dassault Aircraft Services India Private Limited (DASIPL) was set up recently and it is 100% owned by its French parent company, officials said here.
The new company is headed by French national Richard Lavaud, who has worked in India earlier with defence firms,and will work towards finalising the deal with India, they said.
The contract has been offered to Dassault and it is negotiating the terms and conditions and the final price of the aircraft with the defence ministry officials.
Dassault has also entered into an agreement with Reliance Industries Limited (RIL) for partnering in defence and homeland security sectors in the country.
There was a possibility of the two companies working together in the combat aircraft deal here.
After finalising the deal, Dassault will have to reinvest 50% of the contract’s worth back into the defence sector.
Mukesh Ambani-headed RIL has made several efforts in the past to position itself in the defence, internal security and aerospace solutions sectors.