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Tuesday, April 08, 2008

HAL, Ilyushin To Sign US$ 600 million Multirole Transport Aircraft Deal

India's state-owned military-plane maker Hindustan Aeronautics Ltd. (HAL) said that a joint venture to develop a multi-role transport aircraft is near completion.

HAL is partnering with Russia's Ilyushin Design Bureau in the $600 million project, to which the two companies will contribute equally, HAL Chairman Ashok Baweja told a news conference here.

'The funding is ready and the programme is now on,' Baweja said of talks which dragged on since first conceived in the first half of this decade.

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