Bangalore, Oct 24: The Rs 28 crore joint venture between Hindustan Aeronautics Limited and the Hyderbad Based Infotech Enterprises Limited should take off from the current fiscal with an initial manpower of 200.
Aimed to build on the huge offset business realised through defence and civil aviation orders the Joint Venture called the Infotech HAL limited would focus on offering Engineering Design services for aero engines and aircraft. ''We are already looking into some orders''' Mr BVR Mohan Reddy, Chairman and Managing Director of Infotech Enteprises, told newsmen here today.
HAL and Infotech had signed an Mou in May this year to form the joint venture with an initial equity of Rs 28 crore shared equally.
The joint Venture aimed to employ 2000 people by 2012 with a turnover of 70 million US dollars.
The joint venture would be located at the new global development centre inaugurated by Infotech here today.
Mr Reddy said the new facility, the fourth development centre of the company had been built at a cost of Rs 40 crore, with a total area of 120,000 sq ft to accommodate 1500 employees.
The Hyderabad based company would house all its engineering design services, predominantly aerospace, avionics and rail in the new facility.
Mr Reddy said the new Development Centre was in line with the company's expansion strategy to grow in locations which have the best human resources in areas of its focus and specialisation ''It adds a new dimension to our pursuit of excellence in providing high value services to our customers globally'' he added.
The Bangalore centre would be the next biggest centre after Hyderabad, he added.