Hindustan Aeronautics Limited (HAL) and Pawan Hans Limited (PHL) signed an MoU to set up a joint venture at Rohini in Delhi to carry-out the maintenance work related to all types of helicopters and address the needs of defence and civil markets in India and other countries at India Aviation-2016 on Wednesday. Union Civil Aviation Minister Ashok Gajapathi Raju and Secretary, Ministry of Civil Aviation Rajiv Nayan Choubey and CMDs of HAL and PHL T Svarna Raju, and B P Sharma respectively were present on the occasion. “The business of the joint venture will be conducted in the best interest of the customers based on sound commercial principles,” said Minister Rajul said. According to the minister, both the companies will form a joint working team and conduct detailed studies, work on business plan, time line and other required documents for the success of the venture. HAL has been manufacturing and overhauling its Cheetah/Chetak and Dhruv helicopters besides providing support for Speaking helicopter.The PHL is the largest civil helicopter operator in the country. The fleet size of helicopters in civil segment in India is expected to go up to 800 in the next 10 years. In addition, an induction of 600 helicopters in defence is likely to happen in the near future, according to a statement.
Source: Business-StandardHAL, PHL sign MoU to set up maintenance work JV
Industry: Aviation 2016-03-17
