Hyderabad-based metal alloys and specialised metals manufacturer Mishra Dhatu Nigam Ltd. expects to finalise its deal with Pratt & Whitney in two months, the company's Chairman and Managing Director Sanjay Kumar Jha told NDTV Profit on Wednesday.
MIDHANI is in discussions with aircraft engine maker Pratt & Whitney (P&W) to supply engine components globally. If the deal goes through, it will mark a significant milestone for the company and offer a major boost to India's aerospace ambitions.
Commenting on the deal, Jha revealed the potential timeline for its finalisation.
“We will be doing it (the Pratt & Whitney deal closing) in a couple of months, this financial year,” he revealed.
However, the size of the deal has not been fixed yet, Jha said.
“I will not be able to tell right now because the size will be done once we get there in the contract,” the top executive noted.
Jha added that MIDHANI had been a supplier to the aircraft engine maker in the past and now wants to enter into a long-term contract.
“We have supplied certain materials to them (Pratt and Whitney) for their applications, and these materials have been used in their previous programs,” he said.
“Now we are in a place (where we are) willing to have a long-term contract. As and when we can do this agreement, we will come to you and give the information,” Jha added.
Other than international companies like Pratt & Whitney and Boeing, which are set to make major investments starting in January 2025, the domestic aerospace sector in India promises exciting developments.
The Chairman noted that the domestic market is showing a lot of “appetite” for specialised materials, which will drive the company's growth.
“DRDO has done several successful trials for various defence platforms, and they definitely require high-temperature materials. Similarly, HAL also has a lot of programs for aircraft and helicopters. There also you will find many high-end alloys are being used. The other story is that missiles are also in good demand,” he said.
“So I will say that MIDHANI is expecting growth from a combination of all the sectors,” Jha added.
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