National Defence Bureau,
New Delhi, 11 July 2017
Hindustan Aeronautics Limited (HAL), a navratna Central Public Sector Enterprise under the Department of Defence Production, Ministry of Defence signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry here today. The annual MoU was signed between Secretary (Defence Production) Shri Ashok Kumar Gupta on behalf of the Ministry and Chairman and Managing Director, HAL Shri T Suvarna Raju. The MoU outlines targets on various performance parameters for the company during the financial year. The revenue from operations has been targeted at ₹ 17,900 crore, the highest ever.
The company has also laid specific emphasis on capacity building, modernisation, solar power plant, etc., aiming to achieve capital expenditure of ₹ 1,300 crore.
The company’s thrust is on ‘Make in India’ projects to achieve self-reliance in the aviation sector, Hindustan Turbo Trainer-40 (HTT-40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH). Among the important milestones targeted to be achieved include, clearance by Director General of Civil Aviation for civil version of Dornier-228 aircraft, Jaguar DARIN-III upgrade and Mirage 2000 upgrade.
Shailesh Kumar is an independent journalist with over 15 years of experience in crime, political and defence reporting for leading media brands including Star News, India TV and NewsX. He is the founder editor of defence and security news portal, National Defence.