Bengaluru, Feb 16 (IANS): Dassault Reliance Aerospace Limited (DRAL), a joint venture (JV) between Reliance Infrastructure Limited (RInfra)-promoted Reliance Aerostructure Limited (RAL) and Dassault Aviation, which can potentially generate 700 highly-skilled direct jobs and 2,800 indirect jobs in its first phase, has been incorporated, it was announced here on Thursday.

Eric Trappier, Chairman of Dassault Aviation France, will be its Chairman and Anil D. Ambani, Chairman of the Reliance Group, will be the Co-Chairman of DRAL, in which RAL will have a 51 per cent shareholding, while Dassault Aviation (DA) will hold 49 per cent.

India and France has on September 23, 2016, signed an agreement for 36 Rafale fighters for 7.87 billion euros (Rs 60,000 crore). The contract includes a 50 per cent offset obligation of approximately Rs 30,000 crore -- the largest such in India's history.

"DRAL will be a key player in the execution of offset obligations," a statement said.

"DRAL has finalised the infrastructure requirements at Dhirubhai Aerospace Park at Mihan, Nagpur and construction work for the greenfield facility will start in May 2017, and production by end-2017.

"DRAL will support the government's Make in India and Skill India policies and develop major Indian programmes with high levels of technology transfer to benefit the entire aerospace sector," the statement said.

The JV will also focus on promoting research and development projects under the IDDM (Indigenously Designed, Developed and Manufactured) programme, an initiative of Defence Minister Manohar Parrikar, the statement said.