HAL to look at commercial borrowing to fund new projects

The military plane-maker plans to invest Rs 17,500 cr in next 5-6 years

India’s military plane-maker Hindustan Aeronautics Limited is looking at commercial borrowings to fund part of its Rs 17,500 crore planned expenditure to build new fighters and helicopters for the armed forces.

“In the month of March, we may be going in for loans from banks to fund our projects. The overall expected investments, as of now, is approximately Rs 17,500 crores spread over the next 5-6 years,” said T Suvarna Raju, Chairman of HAL, at the 11th Aero India show in Bengaluru on Wednesday. He did not specify the quantum of debt the firm plans to raise.

The move comes