India, Russia plan to sign joint venture for transport aircraft
2008-09-28 [13:14:24 hrs] | | | India is planning to set up a joint venture (JV) with the Russians for a collaborative project for development of a 20-tonne multi role transport aircraft for the armed forces of the two countries. |
| | | The blue chip public sector undertaking Hindustan Aeronautics Limited (HAL) will be the Indian partner while Russia will come with the Rosoboron export and Ilyushin in the joint venture.
"We are planning to start a joint venture company with the Rosoboronexport and Ilyushin aircraft company for the development of the MTA. We are in discussions with the Russians and they would come up with a proposal for setting up of the company," HAL chairman Ashok Baweja told media on Sunday.
The government would soon approve the proposal for a 51:49 percent stakes for New Delhi and Moscow respectively in the joint venture.
It is one of the issues Russian Defence Minister Anatoly Serdyukov would discuss with his Indian counterpart A K Antony during his official visit beginning tomorrow, and an agreement is to be signed in this regard, it is learnt.
The Joint Venture would be on the lines of the already successful Indo-Russian BrahMos Aerospace, which designed and developed one of the world's advanced cruise missiles of the same nomenclature.
The aircraft would be designed to perform multiple transport duties for Indian and Russian air forces and would transport troops and cargo, and also be used for Special Forces operations. |
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