India's, Bangalore based, state-owned Hindustan Aeronautics
Ltd. [HAL] is slated to initiate several new projects in the financial year
Senior HAL officials say that the new projects include of
the upgrade of HPT-32 trainers, Intermediate Jet Trainers, weaponized
Advanced Light Helicopters, Light Utility Helicopters and the additional
production of SU-30 MKI Aircraft. These projects valued at over $5 billion and
are scheduled to be completed in five years, added the HAL officials.
HAL is also setting up specialist teams to undertake
Multi-role Transport Aircraft (MTA) and the Fifth Generation Fighter Aircraft
(FGFA) in collaboration with Russia.
During the last financial year, 2010-11, HAL achieved a
sales turnover of $2.90 billion and a profit before tax of $604 million.