Hindustan Aeronautics Limited (HAL), the leading defence Central Public Sector Enterprise under the Department of Defence Production, Ministry of Defence Tuesday signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with the Ministry.
The annual MoU was signed between Secretary (Defence Production) Ashok Kumar Gupta on behalf of the Ministry and Chairman and Managing Director, HAL 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