India’s Maharashtra Government has signed a Rs350bn ($5.4bn) memorandum of understanding (MoU) with Jet Airways pilot Amol Yadav to help further develop and manufacture aircraft.

As part of the deal, Yadav’s company Thrust Aircraft will produce 19-seater planes in Palghar, Dahanu, Maharashtra.

The company will receive nearly 157 acres of land in Palghar from the government to establish an aircraft manufacturing facility.

“I will be required to build at least one 19-seater aircraft by the end of 2018.”

Yadav was quoted by as saying: “The government will help me with other facilities, including water and electricity required for aircraft manufacturing.

“I will be required to build at least one 19-seater aircraft by the end of 2018.

“After this MoU, I expect the land will be handed over to me sooner. The facility is expected to generate job opportunities for 10,000 people.”

Yadav received a registration certificate from India’s Directorate General of Civil Aviation (DGCA) for the VT- NMD six-seater aircraft last November.

It took him around six years to build the VT- NMD, which is named after India’s Prime Minister Narendra Modi and Maharashtra Chief Minister Devendra Fadnavis.

Yadav started building the aircraft on the terrace of his building in Kandivali, Mumbai, in 2011.

The VT- NMD is capable of ascending up to 13,000ft, climbing at 1,500ft a minute.

It features a maximum speed of 185k with a range of 2,000km, which is the flying distance between Mumbai and New Delhi, reported Indo-Asian News Service (IANS).

The aircraft is expected to receive a flying licence from DGCA in a month’s time.