Bangalore: India's aviation major, Hindustan Aeronautics Limited (HAL), was close to floating a joint venture company with French major Snecma to manufacture engines for the domestic and world market, a top HAL official indicated on November 2.

HAL's chairman and managing director, N R Mohanty, said the company's Board had already given the go-ahead for forming the JV and Snecma was also keen to join hands with the Defence public sector undertaking (PSU).

"If the terms and conditions are agreeable to both sides, we are going to have a joint venture in Bangalore itself. It's most likely to be a 50:50 JV," he told reporters after attending a function.

Mohanty said the joint venture company, if it became a reality, would not only meet the requirements of India but it would export those engines to other countries, both in military and civil side.

PTI