Global Vectra Helicorp, Ltd. has invested $103 million to purchase 11 new helicopters within the next two years.
The additional rotorcraft are in response to India’s growing offshore oil industry and the discovery of gas off the east coast in the last 2-3 years. Global Vectra has 18 Bell 412s, making it one of the largest private helicopter companies in India. In March, Global Vectra plans to add two Eurocopter EC155B1s. According to the company, it also has firm plans to add another four Bell 412s and three EC155B1s in Fiscal 2007 and another two Bell 412s in Fiscal 2008.
There are about 40 helicopters operating in the Indian offshore market. But, said Global Vectra, that is "likely to take a jump in the next 3-4 years due to commencement of production from the offshore fields."