Jupiter to induct Thales as strategic investor

New Delhi: Former BPL Mobile chief Rajeev Chandrasekhar's Jupiter Strategic Technologies has roped in France's Thales as a strategic investor with an eye on the emerging $650 million market for air traffic management in India.
'We had earlier bid together with Jupiter - it's a Bangalore based company - for the air traffic management (ATM) contracts for the new airports in Hyderabad and Bangalore,' said Francois Dupont, Thales country director for India.
With the government proposing to upgrade 36 airports in the country in addition to building four new ones in Delhi, Mumbai, Hyderabad and Bangalore, the market for air traffic management and systems is expected at $650 million, Dupont said.
Thales - along with Raytheon of the US, Selex of Italy and Indra of Spain - had been short-listed for the estimated $35 million air traffic management system and radar contract for the new Bangalore airport.
22/12/06 Monsters and Critics.com, UK

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