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Lok Sabha
The Government has approved the formation of a Joint Venture Company (JVC) between Hindustan Aeronautics Limited (HAL) and Snecma, France.
The JVC is to establish a Centre of Excellence for production of civil engine components and assemblies at Bangalore. The JVC will be managed by an independent Board of Directors. Equity participation by HAL & Snecma in the JVC will be on 50:50 basis. The JVC is expected to commence production in 2006. The export turnover is expected to be around Rs. 40 crores per annum.
This information was given by the Defence Minister Shri Pranab Mukherjee in a written reply to Shri Anandrao V. Adsul in Lok Sabha today.
SKS / PS
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