Hindustan Aeronautics Ltd. will supply 12 Su-30MKI aircraft along with associated equipment to the Indian Air Force for Rs 13,500 crore. The Ministry of Defence signed a contract with HAL on Thursday.
The aircraft would have an indigenous content of 62.6%, enhanced due to the indigenisation of many components to be manufactured by the local defence industry, a statement said.
"The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defence preparedness of the country," the ministry said. The order amount is inclusive of taxes and duties, it added.
The Sukhoi Su-30MKI is a two-seater, twinjet, multirole air superiority fighter developed by Russian manufacturer Sukhoi and built under license by HAL for the Indian Air Force. A variant of the Sukhoi Su-30, the MKI is a heavy, all-weather, long-range fighter.
These aircraft would be manufactured at the Nasik division of HAL.
The announcement comes days after Defence Minister Rajnath Singh's visit to Moscow, where he met Russian President Vladimir Putin and other top officials to discuss defence ties.
In September, the defence ministry signed a Rs 26,000-crore contract with HAL for advanced engines for Su-30MKI aircrafts. These aero engines will be produced by the Koraput division of HAL.
The engines are expected to fulfil the need of the Indian Air Force to sustain the operational capability of the Su-30 fleet.
HAL will supply 30 aero engines per annum as per the contractual delivery schedule. The supply of all 240 engines would be completed over the next eight years.
Shares of HAL closed 0.25% higher at Rs 4,661.1 apiece, ahead of the announcement, compared to 0.3% decline in the benchmark BSE Sensex. The stock has risen 66% so far this year.
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