Boeing Co (BA.N) plans to invest about $24 million in India to set up a logistics centre for airplane parts, Salil Gupte, president of the local unit told Reuters on Monday, boosting its footprint in the country amid a large plane order.
Even though the manufacturer did not disclose the costs required to establish the centre, several reports estimated the investment at Rs2bn (around $24m).
The new centre will focus on increasing the availability of spare parts to domestic air carriers, thereby reducing flight cancellations due to maintenance.
Boeing said that the move will help regional clients maintain higher fleet utilisation and mission readiness rates. (Reuters/ Majan Travel)