The Hindu Business Line : Cabinet clears HAL-Snecma joint venture

THE Cabinet on Thursday approved the setting up of a joint venture company by Hindustan Aeronautics Ltd (HAL) and Snecma Moteurs of France with an initial investment of Rs 50 crore.

The Cabinet also approved a 50:50 equity participation by the two partners of the joint venture company.

The joint venture will lead to outsourcing of aero engine components by both the parties at competitive rates apart from bringing about an increase in export potential.

It will also lead to the introduction of advanced technologies and management practices, inflow of foreign direct investment and job creation.

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