Taneja Aerospace enters into MRO Facility Agreement with AWACS

Taneja Aerospace & Aviation Ltd has informed that the Company has entered into a MRO Facility Agreement with M/s. Air Works Commercial MRO Services Pvt Ltd (AWACS) wherein the Company would be licensing 7 acres of land and upto 5 hanger space on a long term basis which is a step towards the Company's strategy to develop its private air field as a MRO and Aviation park.

Initially the Company would be licensing 2 hanger space which would result in cash inflow of around Rs 7.50 Crore per annum.