Aggarwal’s company has signed a LoI with UAC for the purchase of 50 IL-114-300 aircraft.
Omkam Aviations Pvt Ltd, a newly incorporated Delhi company, has announced plans to introduce 50 Russian IL-114-300 regional aircraft in India, and says it is in advanced discussions with Russia’s United Aircraft Corporation (UAC) for local assembly and technology transfer.
The proposed initiative was discussed at the Innoprom India trade fair held recently in New Delhi, according to the company.
Omkam Aviations Managing Director Peeyush Kumar Aggarwal said the company has signed a Letter of Intent (LoI) with UAC for the purchase of 50 IL-114-300 aircraft.
“We have signed an LOI for the purchase of 50 IL-114-300 aircraft with the Moscow-headquartered UAC. Six aircraft will make up the first batch, with an assembly line to be built in India, followed by technology transfer. This will be the first major plant in India to manufacture aircraft for civil aviation,” Aggarwal said on 15 Sept.
He said the initial investment for the first six aircraft and their support systems would be around Rs 1,500 crore, with investments expected to increase as the project progresses towards larger-scale manufacturing in India.
The company said it is planning eventual 100 per cent manufacture of the aircraft in India under a proposed full Transfer of Technology (ToT) agreement with UAC. It also envisages the possibility of exporting aircraft manufactured in India to overseas markets.
Omkam Aviations said Sberbank of Russia has committed in principle to support the proposed venture with the requisite funding.
The IL-114-300 is a twin-engine turboprop aircraft designed to carry around 66-68 passengers and operate on regional routes, including airports with shorter runways and relatively limited ground infrastructure.
Omkam Aviations Executive Director Aditya Aggarwal said the aircraft could help improve direct connectivity between smaller cities and major economic centres.
“These aircraft are well-suited for connecting the smaller Tier 2 and Tier 3 cities. For instance, if someone wants to travel from Meerut to Mumbai, they can go directly rather than flying into Delhi and then transferring to Mumbai — just like prospective routes connecting Noida, Agra, Pune, and beyond,” he said.
Aditya Aggarwal said the proposed project would go beyond aircraft operations and could contribute to the development of an aviation ecosystem in India.
“This project represents the creation of a sustainable aviation ecosystem in India through skills development and regional connectivity, strengthening connections between emerging cities and economic centres,” he said.
Omkam Aviations Co-Founder and Director Govind Gupta said the proposed localisation of aircraft manufacturing and maintenance infrastructure could contribute to closer industrial cooperation between India and Russia.
“Localising aircraft manufacturing and maintenance infrastructure would profoundly strengthen the strategic and industrial bond between India and Russia,” Gupta said.
The company said the proposed project comes against the backdrop of expanding economic and trade engagement between India and Russia.
Gupta said the initiative is also aligned with the government’s focus on domestic manufacturing.
The proposed manufacturing and technology-transfer arrangements are subject to completion of definitive agreements, regulatory approvals and other applicable processes, the company said. fiinews.com
