HAL MoU with MoD

On 12 July 2017, T Suvarna Raju, CMD- HAL signed a Memorandum of Understanding ( MoU) with Ashok Kumar Gupta, Secretary, Department of Defence Production for the financial year 2017-18, which outlines targets on various performance parameters for the Company during the year 2017-18. The revenue from operations has been targeted at Rs. 17,900 crores, the highest ever. HAL has also laid specific emphasis on capacity building, modernisation, solar power plants, aiming to achieve capital expenditure of Rs. 1300 crores, besides focussing on ‘Make in India’ projects such as Hindustan Turboprop Trainer-40 (HTT40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH). Among the important milestones targeted to be achieved include clearance by DGCA for civil version of the Dornier 228, Jaguar DARIN-III and Mirage 2000 upgrade.