India and Russia have signed an agreement for setting up a Rs 2,900-crore joint venture to co-develop and co-produce a military multi-role transport aircraft (MTA) for their armed forces.
India's Hindustan Aeronautics Limited (HAL) and Russia's United Aircraft Corporation (UAC)-Rosoboronexport officials signed the agreement here yesterday, according to a HAL press release.
Approved as a joint project by both India and Russia, the aircraft would have a 15-tonne to 20-tonne payload capacity and would meet the requirements of the Indian Air Force and the Russian Air Force.
The two countries plan to manufacture 205 MTAs soon after its development.
The MTA is likely to have a maximum takeoff weight of 65 tonnes touching cruise speeds of 800 kmph with a 2,500 km to 2,700 km range.
The aircraft, with two engines and state-of-the-art features such as fly-by-wire and full authority digital engine control, would have a service ceiling of 12 km. It is envisaged to have modern avionics and a glass cockpit.
The total cost of development of the aircraft would be equally shared by both India and Russia along with 50 per cent work share between HAL and UAC-Rosoboronexport each.
Under the JV, both the Indian and Russian corporations would have equal shareholding.
The JV agreement was signed and exchanged by HAL's Director (Design and Development) N C Agarwal with Rosoboronexport's Head of Department (Air) S K Kornev and UAC General Director (Transport Aircraft) S V Velmozhkin.