12 July 2017

HAL signs MoU with Defence Ministry

HAL signs MoU with Defence Ministry

Hindustan Aeronautics Limited (HAL) has signed an MoU for the financial year 2017-18 with the Ministry of Defence. The annual MoU was signed between Ashok Kumar Gupta, Secretary, Department of Defence Production and T Suvarna Raju, CMD-HAL.

The MoU has outlined targets on various performance parameters of the company during the year 2017-18. The revenue from operations has been targeted at Rs. 17,900 crore, the highest ever.HAL has also laid specific emphasis on capacity building, modernization, solar power plants, aiming to achieve capital expenditure of Rs. 1,300 crore.

Important Takeaways from Above News-
  • Shri T. Suvarna Raju is the Chairman and Managing Director (CMD) of  HAL.
  • HAL had its origin as the Hindustan Aircraft Company which was incorporated on 23 Dec 1940 at Bangalore.
  • HAL is Headquartered in Bengaluru.
Source- The Hindu Business Line

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