Chennai, Nov 8
RR Industries is investing Rs 770 crore to set up a flight-training academy in Chennai, called Rudradev Aviation.
Mr R. Ravi, CEO and Managing Director, RR Industries and Rudradev Aviation, said the company has tied up with the Paris-based Thales Group, a major player in defence, aerospace and security systems space, for the supply of simulators.
Mr Ravi said that the cost of equipment would be Rs 625 crore, 85 per cent of which would be funded by a European bank and the balance from private investors.
The company plans to invest in both Boeing and Airbus simulators, which cost about Rs 80 crore each. The first simulator would come in by June 2007 and the academy would start training on its full flight simulators (FFS), Mr Ravi said.
The academy would be offering FFS training for A 320, A330, A380, B737 and B777. The academy would train co-pilots or first officers on levels B, C and D. Students who have completed their Plus 2 with Physics and Math background are eligible to join the academy. The first level would be qualifying for a commercial pilots licence on a single engine aircraft, which would cost about Rs 10 lakh and Rs 20 lakh to become a first officer on a jet.
The academy would be located on five acres at Tambaram, a suburb of Chennai and will have residential facilities.
Earlier this week, RR Industries tied up with Old Lane, a New York-based private equity firm to set up a $110-million IT park in Chennai.