Putin okays copter manufacture plan

Putin okays copter manufacture plan

 India moved a step ahead in manufacturing the Russian origin Kamov 226T helicopters with Russian President Vladimir Putin giving his assent to the bilateral defence manufacturing project.

The approval for licence production, received recently by the defence ministry, would pave the way for the formal signing of a joint venture (JV) between Hindustan Aeronautics Limited (HAL) and Russian partners to produce the choppers at the new HAL facility at Tumakuru.

“With the (Russian) presidential approval, the decks are cleared to form the JV,” said a source in the defence ministry.

In October, HAL signed three documents – a share holder’s agreement, an MoU and an article of association for the JV – with Rostec Corporation and Russian Helicopters, paving the way for local production of one of the world’s most well-known helicopters in India.

According to the planned share-holding pattern, HAL would hold 50.5% stake whereas Russia will have 49.5 % stake out of which Russian helicopters will have 42.5% and Rostec will have the remaining 7%, a source said.

The plan is to get 60 helicopters in fly away or semi-knock down conditions from Russia and manufacture about 100 choppers in the upcoming HAL unit, the foundation stone for which was laid in January 2016.

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