The Union Cabinet on Wednesday approved proposal to acquire two helicopters and aircraft from Hindustan Aeronautics Ltd. under the modified UDAN scheme for Rs 400 crore.
The government in a press release said it will procure two HAL Dhruv helicopters for Pawan Hans and two HAL Dornier aircraft for Alliance Air. The Cabinet has allocated Rs 400 crore to complete the procurement of Made In India aircrafts in order to address the shortage of small fixed-wing aircraft and helicopters required for operations in remote and difficult terrains.
Cabinet approved modification in the UDAN Scheme for a period of ten years with an outlay of Rs 28,840 crore. Under the new scheme 100 new airports will be developed with a total outlay of Rs 12,159 crore over the next eight years., Ashwini Vaishnaw, I&B and Railways Minister said during the press conference.
In addition the modified scheme also proposes developing 200 modern helipads at Rs 15 crore each, amounting to a total requirement of Rs 3,661 crore over the next eight years
HAL's Orders For Armed Forces
The State-run aerospace major earlier this month told a parliamentary panel on defence that currently it has an order for supplying 34 Dhruv, 180 LCA Tejas Mk-1A aircraft and 156 Prachand attack helicopters to the armed forces. In February, a spokesperson of HAL said five Tejas light combat aircraft were fully ready for delivery to the Indian Air Force.
ALSO READ: Govt Okays Rs 28,840-Crore UDAN Revamp; 100 Airports To Supercharge Regional Connectivity
In February 2021, the defence ministry had sealed a Rs 48,000 crore deal with HAL for the procurement of 83 Tejas Mk-1A jets for the IAF. The delivery of the jets are facing delays primarily due to GE Aerospace missing several deadlines for supply of its aero engines to power the jets.
The HAL is presently executing major projects worth Rs 2,22,182 crore with timeline for delivery -- March 2034, which include Light Combat Aircraft (LCA) Mk-1A; Hindustan Turbo Trainer (HTT-40); and Dornier (Do-228), etc., as cited in their report.
HAL's Share Price Today
The scrip closed 0.42% higher at Rs 3,669.40 apiece on Wednesday. This compares to a 1.72% advance in the NSE Nifty 50 Index. During the day, the stock rose as much as 2.08% to Rs 3,729.90 per share.
It has fallen 8.55% in the last 12 months and 16.39% year-to-date.
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