JOIN USIn purusit of its ambition of becoming a $6 billion (Rs 28,000 crore) company in a decade from Rs 10,000 crore now, Bangalore-based public sector defence aeronautics behemoth — Hindustan Aeronautics Ltd (HAL) plans to invest more than Rs 25,000 crore in the next 10 years to fund its big ticket projects.
Briefing reporters, Chairman Ashok Nayak said, the company has a robust order book of more than Rs 60,000 crore and with additional orders coming for 57 more Hawk (40 for IAF & 17 for the Navy) besides upgradation of Jaguar and for the IJT (Intermediate Jet Trainer) it would swell by another Rs 6,000 crore.
HAL, he said, would meet its capex programme mainly through internal accruals. “We have some reserves. Some grant will be given to each project (by the government).” The $2 billion company will achieve its $6 billion target in 10 years, through the “big-ticket projects” such as multi-role combat aircraft, fifth generation fighter aircraft, multi-role transport aircraft and regional transport aircraft expected to take off in the coming years. Further, he said “we hope to do lot more outsourcing. Infrastructure in the Indian private industry is also coming up. We would like to make use of that.”
Manufacturing MoU
HAL, he revealed, would shortly sign a MoU with National Aerospace Laboratories to manufacture 30-35 ‘Saras’ multi-role light transport aircraft. Likewise, he said, light combat helicopter developed by HAL was set for its maiden flight. “Two prototypes has already been built. Maybe in the next eight-ten weeks.” Also, he said, HAL has 90 received orders for advanced light helicopters (Dhruv), while 160 has been delivered.
HAL, however, has put on hold the MRO (maintenance, repair and overhaul) facility for aircraft plans, because “the market for it has not revived for reconsideration.”
HAL, which has had 25 years of aerospace association with Honeywell, he said, was looking forward to expand the relationship to achieve further growth.
HAL has been engaged in production and support of Honeywell’s TPE331-5 turboprop engine. HAL has built more than 225 TPE331 engines so far. Further, HAL also supplies Honeywell with TPE331-12JR engine parts to meet global demand. Honeywell, on its part said, India continues to be part of it’s global growth strategy as key manufacturing, export, and R&D activities.