Saturday, February 11, 2012

India finalises contract with GE for 99 aircraft engines

The only thing left before India signs the estimated $800 million deal with GE Aviation for 99 GE-F414 engines now, is the clearance from the Cabinet Committee on Security (CCS). The Price Negotiation Committee (PNC), which was set up late 2010 after GE had nipped Eurojet to become the lowest bidder, has recently finalised the deal after having surpassed all the hurdles before it and the file is now expected to go to the CCS anytime.

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