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| HAL to invest Rs 25,000 cr in next 10 years |
| Pres Trust of India / Bangalore Nov 20, 2009, 17:02 IST |
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Hindustan Aeronautics (HAL) plans to invest more than Rs 25,000 crore in the next 10 years on the back of a strong order pipeline and big ticket projects on the horizon.
The company has an order book of more than Rs 60,000 crore, its Chairman Ashok Nayak said.
"We have got a new order for upgrading the Jaguar once more. Fresh order for the IJT (Intermediate Jet Trainer) is imminent... It's under approval... May be Rs 6,000 crore additional order. Hawk ... Additional 57 -- 40 for IAF and 17 for the Navy -- they are trying to buy," he told reporters here today.
Nayak said HAL plans to invest Rs 25,000 crore, mainly through internal accruals. "We have some reserves. Some grant will be given to each project (by the government)," Nayak said.
On how HAL would realise its aim of becoming a $6 billion company in 10 years, from being a $2 billion company now, he said that "big-ticket projects" of multi-role combat aircraft, fifth generation fighter aircraft, multi-role transport aircraft and regional transport aircraft are expected to take off in the coming years.
"So these things will bring the company to that level," he said. "We hope we can do lot more outsourcing. Infrastructure in the Indian private industry is also coming up. We would like to make use of that," he added.
Nayak said HAL is in the process of signing an MoU with the National Aerospace Laboratories to manufacture 30-35 'Saras' multi-role light transport aircraft, designed and developed by the latter.
He also said HAL has put on hold its plans to build an MRO (maintenance, repair and overhaul) facility for aircraft here, because "the situation (market for such a business) has not revived for reconsideration".
Nayak said the light combat helicopter developed by HAL is all set for its maiden flight. "It is expected to fly pretty soon. Maybe a couple of weeks... Eight-ten weeks."
Nayak said 90 advanced light helicopters (Dhruv), developed and manufactured by HAL, are flying today and the company has received orders to deliver 160 more.
On the cause of Dhruv helicopter crash in Ecuador last month, he said experts are expected to pinpoint the reason with the help of the crash data recorder in a week's time, though initial indication was that it happened due to the "sharp overmaneuvre" of the pilot.
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