Boeing Co (BA.N) will set up in India a facility to convert passenger aircraft into freight planes to capitalize on growing global demand for cargo, executives from the U.S. aviation firm said on Friday.
The facility will add to Boeing’s $1 billion supply chain sourcing from India and will help support India’s ambitions to become a global cargo hub, Chief Strategy Officer Marc Allen told reporters in New Delhi. He did not give any details about when the facility will be set up or the size of the investment.
The planned facility comes amid a push by Boeing to expand in India. In February, the company said it plans to invest $24 billion to set up a logistics center for airplane parts.
Flag carrier Air India has also placed a record order for nearly 500 jets, worth more than $100 billion at list prices, with both Boeing and Airbus.
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