HAL all set to fly high with Rs 100-crore plant in Orissa

Hindustan aeronautics limited has entered into an agreement with global aircraft engine major Pratt & Whitney to manufacture engine components, and would set up a Rs 100 crore plant for this at Koraput in Orissa, an initative from which the India aeronautical major expects an annual business of usd 500 million in 10 years.
Bangalore-headquartered HAL’s chairman and managing director Ashok K Baweja told a press conference here that Pratt & Whitney’s contribution to the venture would be in terms of “intellectual” by way of technical and training support.
“We will invest $20 million (Rs 100 crore) to set up the plant at Koraput,” Baweja said. “We are expecting a business of usd 50 million initially and $500 million annually in 10 years.”
28/12/06 Financial Express

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