According to ET, 11 July, 2011: Reliance Infrastructure of Anil Ambani-led Reliance Group has received government approvals for its planned $1-billion greenfield aerospace park near Nagpur. The board of approval for special economic zones (SEZs) in the ministry of commerce has given its approval to the proposed aerospace park spread across 289 acres at Mihan near Nagpur.
The park aims to carry out business worth over Rs 200,000 crore over the next 30 years, the company said. In the first phase, the project will build manufacturing unit for production of aircraft, electronic warfare systems, radars, unmanned aerial vehicles, maintenance repair and overhaul for commercial aircraft, and complete eco system, including ancillary units and suppliers, to support these large projects. This development will be spread over 104 acres and the second phase will cover an additional area of 185 acres.
It is to be noted that Reliance Infrastructure acquired the erstwhile Pipavav Defence & Offshore Engineering in 2015 to make a foray into the sector.
Rolta India Ltd (Rs.61) is consolidating around the current price, before the next upmove. The long term investors should however keep a SL at Rs.58.