HAL signs MoU with Ministry of Defence
July 12th, 2017
Hindustan Aeronautics Limited (HAL) has signed an MoU for the financial year 2017-18 with the Ministry of Defence. The annual MoU was signed between Ashok Kumar Gupta, Secretary, Department of Defence Production and T Suvarna Raju, CMD-HAL. The MoU has outlined targets on various performance parameters of the company during the year 2017-18. The revenue from operations has been targeted at Rs. 17,900 crore, the highest ever. HAL has also laid specific emphasis on capacity building, modernization, solar power plants, aiming to achieve capital expenditure of Rs. 1,300 crore. According to the Defence Ministry, HAL would focus more on production of Turbo Trainer-40 (HTT-40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH) during the fiscal.