Hindustan Aeronautics Gets Indian Government's Nod for Acquisition Proposals of INR217.7 Billion

MT Newswires Live12-04

Hindustan Aeronautics (NSE:HAL, BOM:541154) has received approval from the Defence Acquisition Council (DAC) of India's defense ministry for five acquisition proposals worth over 217.7 billion Indian rupees, according to a Wednesday filing to the stock exchanges.

The company has received Acceptance of Necessity from the DAC for the procurement of 31 new water jet fast attack crafts for the Indian Navy.

THe DAC also accorded Acceptance of Necessity for procurement of 120 fast interceptor craft, procurement of electronic warfare suite, six advanced light helicopters for Indian Coast Guard, and received approval for the overhaul of T-72 & T-90 tanks, BMP- and engines of Sukhoi fighter aircraft.

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