India to consider Tata-SIA joint venture plan on Oct 18

The first A380 delivered to Singapore Airlines arrives at the Airbus Delivery Centre in Toulouse Blagnac, southern France, on Oct 15, 2007. India's Foreign Investment Promotion Board will consider a proposal from Singapore Airlines to set up an airli
The first A380 delivered to Singapore Airlines arrives at the Airbus Delivery Centre in Toulouse Blagnac, southern France, on Oct 15, 2007. India's Foreign Investment Promotion Board will consider a proposal from Singapore Airlines to set up an airline in the country in a joint venture with the Tata Group on Oct 18, according to the regulator's website. -- FILE PHOTO: REUTERS

NEW DELHI (REUTERS) - India's Foreign Investment Promotion Board will consider a proposal from Singapore Airlines to set up an airline in the country in a joint venture with the Tata Group on Oct 18, according to the regulator's website.

Tata and Singapore Airlines plan to form a full-service airline based in New Delhi, the companies said last month. The two will initially invest a combined US$100 million (S$125 million) to start the carrier, with Tata Sons owning 51 per cent and Singapore Airlines the rest.