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