JVs formed and capitalized

Hindustan Aeronautics Limited (HAL) is leading helicopter manufacturing facilities in separate joint ventures with Russian and French partners.

HAL leads with 50.5% stake in Indo Russian Helicopter Pvt. Ltd. (IRHL) has been incorporated as Joint Venture cum subsidiary since May 2017 to manufacture Ka-226T helicopters in India.

Its partners are Russian Helicopters and Rosoboronexport with 42.5% and 7% stake in IRHL.

The venture is capitalised at Rs.30 crores with paid up capital is Rs.10 crores, said Minister of State for Defence, Dr. Subhash Bhamre in parliament on 28 Mar 2018.

The facility will function as an independent Division of HAL at Biderehalla Kaval, Gubbi Taluk, Tumakuru District, Karnataka.

The Karnataka State Government has allocated 610 acres of land for the facility which would be self-contained for production and maintenance of the Ka-226T, with future expansion for production of other helicopters.

The cost of project to cover initial setting up of the facilities is expected to be around Rs.2,000 Crores.

HAL has also formed a 50:50 joint venture Helicopter Engines MRO Pvt Ltd since August 2016 with Safran Helicopter Engines of France.

The venture would provide complete maintenance support for the Shakti and TM3332B2 engines fitted on Advanced Light Helicopters (ALH) produced by HAL and operated by Defence Services.

With authorised capital of Rs.50 crores, the facilities will be set up in Goa, he said. fii-news.com