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Deal done: Government formally seals Rs 48,000 crore pact to procure 83 Tejas LCA from HAL
The contract was handed over by Director General (Acquisition), Ministry of Defence, V L Kantha Rao to Chairman and Managing Director of HAL, R Madhavan.
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The HAL Tejas during the Aero India 2021 rehearsal at the Yelahanka Air Force station in Bengaluru. (Photo | Ashishkrishna HP, EPS By PTI
BENGALURU: The government on Wednesday formally sealed the Rs 48,000 crore deal to procure 83 Tejas LCA from state-run aerospace behemoth Hindustan Aeronautics Ltd, a deal described by the government as the biggest Make in India defence contract.
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India to buy 83 indigenous fighters for $6.5bn 2 minutes read
Bengaluru, India, Feb 3 (efe-epa).- India on Wednesday agreed to buy 83 locally-built combat aircrafts worth more than $6.5 billion from the state-run defense and aerospace major Hindustan Aeronautics.
The biggest defense deal for a homegrown company was sealed at the opening of Aero India-2021, India’s biennial defense and aerospace show, in the southern city of Bengaluru.
“I am very happy that (Hindustan Aeronautics Ltd) HAL has got the orders for development of 83 new indigenous Light Combat Aircraft (LCA) – Tejas MK1A from Indian Air Force valued at more than Rs. 480 billion,” Defense Minister Rajnath Singh announced in his inaugural address at the event.
Government of India formally sealed Rs. 48,000 crore deal with Hindustan Aeronautics Ltd
Posted On: 2021-02-03 05:52:07 (Time Zone: Arizona, USA)
The Government of India today formally sealed the deal of around Rs. 48,000 Crore (inclusive of taxes and duties of around Rs. 7,000 Crore; infrastructure and design & development cost of around Rs. 2,300 Crore) for procuring 73 indigenous LCA Tejas Mk-1A fighter aircraft and 10 LCA Tejas Mk-1 trainer aircraft from Hindustan Aeronautics Ltd.
Shares of Hindustan Aeronautics Ltd was last trading in BSE at Rs.964.8 as compared to the previous close of Rs. 933.35. The total number of shares traded during the day was 48404 in over 3053 trades.