Hindustan Aeronautics inks pact with Isreal Aerospace Industries for Multi Mission Tanker Transport

6 Apr 2022 , 05:48 PM

Hindustan Aeronautics Limited has entered into an MoU with Israel Aerospace Industries (IAI) in order to bolster the ‘Make in India’ campaign. This MoU is aimed at converting Civil (Passenger) aircraft to Multi Mission Tanker Transport (MMTT) aircraft in India.

Under this agreement, HAL will convert preowned Civil (Passenger) aircraft into air refueling aircraft with cargo and transport capabilities. This move is directed toward providing India’s defence ecosystem with new capabilities and economical solutions in the market.

The MoU will leverage HAL and lAl’s decades long expertise in developing, manufacturing, and producing leading defence platforms.

Mr. D. Maiti, CEO (MiG Complex), HAL, and Mr. Yaacov Berkovitz, VP & GM, IAI have signed a formal Memorandum of Understanding (MoU) in the presence of Mr. Chandraker Bharati, JS Aero (MoD).

“We are pleased to be associated with our long-standing partner IAI in this venture of MMTT conversion business which is one of the strategic diversification avenues identified by HAL”, says Mr. R. Madhavan, CMD, HAL.

Hindustan Aeronautics ended at Rs1,555 up by Rs3.35 or 0.22% from its previous closing of Rs1,551.65 on the BSE. Its scrip touched intraday high and low of Rs1,575 and Rs1,528.45 respectively.