Indian government plans to disinvest 10 per cent of its share from India’s only defense aircraft manufacturer, Hindustan Aeronautics (HAL) and 5 per cent from Bharat Electronics (BEL).
Indian Defense Minister of State for Defense, Inderjit Singh Rao said in a statement to the Parliament Monday that “the Government has approved disinvestment of defence sector CPSEs, 5 per cent paid-up equity of BEL out of Government of India’s shareholding of 75.02 per cent, through Offer for Sale (OFS) and 10 per cent of paid-up equity of HAL, through Initial Public Offer (IPO).”
Strategic sale of Defence Public Sector Undertakings (DPSUs) is not contemplated, the statement said.
HAL is currently handling many key projects for both the Indian Air force and Indian Navy such as development of Tejas Light Combat Aircraft , Dhruv Advanced Light Helicopters , and the indigenous production of Russian-origin Su-30MKI fighter planes.
The other projects the company is keen to handle are the indigenous production of medium multi-role combat aircraft and the fifth-generation fighter aircraft, light utility helicopters and multi-role transport aircraft.
Representatives of Russian Helicopters and Rosoboronexport are expected in Bangalore next week to hold talks with Hindustan Aeronautics Limited (HAL) on implementation of a project to manufacture the KA-226T helicopters in India. A Russian source told defenseworld
Indian Prime Minister Narendra Modi will lay the foundation stone for the helicopter complex of Hindustan Aeronautics (HAL) at a small village of Tumakuru district of Karnataka on January 2, 2016. Defence Minister Manohar Parrikar along with other cabinet members is also expected to participate in the event
Hindustan Aeronautics will be one of the Central Public Service Undertakings (CPSUs) which has been issued a notification from the Indian government for listing by March 2017. The Department of Public Enterprises (DPE) has issued the notification for the listing
Hindustan Aeronautics Light Combat Helicopter (LCH) has successfully fired Rockets (70 mm) from its prototype, TD-3 in weaponized configuration. “The initial rocket firing trials have been carried out at Jaisalmer, establishing satisfactory integration of hardware and software, structural integrity and safe separation of rocket ammunition
India apart from the designated price for the 36 Dassault Rafale fighter jets from France will have to bear the cost of weapons that would be integrated to the fighter aircraft. The cost of the ammunition suite of the Dassault Rafale will be an additional element to the final price of the aircraft being negotiated between India and France, sources in the Anglo-French weapons manufacturer, MBDA told
Tests of Russia’s S-500 Launcher in Final Stage
L3-Harris, Raytheon Net $1B for Anti-Jam SATCOM Software
Indonesia to Order 79 Additional Russian BT-3F Armored Vehicles
Raytheon Bags S.Korea’s RAM Guided Missile Deal
Chinese Military Docs Develop Novel Coronavirus (COVID-19) Vaccine
Turkish Drone Strike Destroys Syrian Army’s Pantsir-S1 Air Defense System
China Replaces Russian Engine in J-10C Jet With Locally-made WS-10 Taihang
Syria Destroys 6 Turkish Combat Drones, Turkish F-16s Down 2 Syrian Su-24
China is pulling off the impossible- selling arms to nations it is in conflict with over its claim in the...
Several joint production and direct procurement programs could be halted if the US and Europe carry through with their threat...
Sanctions-hit Iran has found ingenious ways to develop military hardware
Artificial Intelligence (AI) is rapidly permeating the defence industry to aid and improve human decision-making
Upgrade of Russias Sukhoi Su-30SM fighters to equip them with armaments, radar, sensors and engines from the more powerful Su-35...
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...