HAL plans Rs20,000 crore modernisation
11 Feb 2011
Defence major Hindustan Aeronautics Limited (HAL) today announced a Rs20,000 crore plan for modernising its plants and suggested that the company could go public and be listed on the stock market.
According to HAL director (finance) D Shivamurthi the company had plans to spend Rs20,000 crore for modernising its facilities over the next 10 years which would be funded through internal accruals.
The Bangalore-headquartered HAL already holds Rs9,000 crore in reserves and proposed an additional Rs1,500 crore every year, he told reporters on the sidelines of 'Aero India 2011' here.
Company officials said, HAL had 19 production divisions and 10 R & D centres in the country.
According to Shivamurti HAL company planned to design, develop and manufacture 1,500 helicopters over the next ten years.
The company has Rs1lakh crore worth of orders to be delivered over the next ten years, according to officials.