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Home -> Finance -> Full Story
Russian aircraft maker seeks HAL’s equity participation
Thursday, May 16 2002 14:30 Hrs (IST)

New Delhi: Major Russian aircraft manufacturer, Irkutsk Aviation Production Organisation, has proposed that Hindustan Aeronautics Limited (HAL) participate in its shareholding, Lok Sabha was informed on May 16.

However, the proposal "is not under consideration of the government at present", Defence Minister George Fernandes said in reply to a question.

He said there was no proposal for Irkutsk to become a shareholder in HAL.

Military and technical co-operation between India and Russia was of long-standing and encompassed acquisition of weapons and weapon systems, licence production of weapons with transfer of technology and setting up of facilities for repair, maintenance and overhaul, he said.

This relation has since graduated to include co-operation in the sphere of research and development in high technology, co-design, development and production of major platforms and weapon systems, Fernandes said, adding that various proposals emanating from both sides were being discussed at the meetings of Indo-Russian Inter- Governmental Commission on military-technical co-operation.

PTI