HAL’s shares rose by 1.93%, nearing Rs 1,032.60, post the strategic deal announcement
India’s leading aerospace and defense company- Hindustan Aeronautics Limited (HAL) has reportedly announced extending its partnership deal with Rolls Royce, in an attempt to realize the collaboration in 2 key areas.
According to sources, the partnership will focus on expanding supply chain for both Defense and Civil Aerospace and launching a legal maintenance facility for Adour Mk871 engines to support Rolls-Royce’s global customer pool.
For the record, HAL is currently engaged in drafting the design, development, production, and repair and overhaul of helicopter, engines, and other related systems including instruments, avionics, and accessories primarily serving the Indian defense program.
It has been claimed that the shares of Hindustan Aeronautics rose by 1.93% to Rs 1,032.60 post the company’s announcement of expanding its partnership with Rolls-Royce in the country for collaboration in the above mentioned areas.
Incidentally, HAL has also inked an MoU with Safran Aircraft Engines, France, to explore the opportunities for strategic business collaboration to leverage the talents and capabilities of both the parties while supporting the growth of a strong network for aero-engines in India. This initiative is expected to align with the goals of Government of India’s Make in India movement.
According to reliable sources, the MoU scope covers a wide spectrum of objectives, including transfer of key production technologies, production and MR of M88 and other engines, and manufacturing of high drive aero-engines related to cooperation.
It is essential to mention that Safran Helicopter Engines stands as HAL’s key partner in engines for the company’s helicopter including Cheetah Light, Chetak, Light Combat Helicopter, Utility Helicopter, and Advanced Light Helicopter. Furthermore, both the companies have jointly developed Shakti Engine for Light Combat Helicopter and Advanced Light Helicopters.