MoU Signed Between Department Of Defence Production And HAL

Team DefenceAviationPost

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

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