The Hindu Business Line : Global Vectra to add 11 copters to its fleet

GLOBAL Vectra Helicorp Pvt Ltd (GVHPL), which is 60-per cent owned by the UK-based NRI firm Vectra Group, is planning to invest Rs 350 crore to add 11 new helicopters to its fleet.

The company plans to purchase four HAL manufactured Dhruv and seven BELL 412 helicopters over the next two years. This acquisition would increase its fleet to 22 helicopters.

Lt Gen S.J.S. Saighal, Chairman, GVHPL, told Business Line that the purchases would help the company to grow in the offshore oil helicopter business and become a leader in this segment.

"We see huge potential in this segment as there have been an increasing number of players entering the offshore oil exploration business," he said.

The company is currently servicing offshore oil platforms of ONGC, British Gas, Reliance and Gujarat Petroleum. It is also in talks with Trans Ocean for a tie-up.

The company is optimistic about growth in the business in view of recent developments. These include the awarding of contract under the Government's New Exploration Licensing Policy (NELP) for additional oil explorations in the Mahanadi Basin to Reliance with Niko, Andaman Deepwater Block to ONGC and other explorations in the fifth phase of NELP to Reliance and ONGC with their foreign partners. GVHPL has been growing at 21 per cent per annum and had a turnover of $ 25 million (around Rs 112 crore) last year.

The company was earlier operating by the name of Azal India Ltd, which was changed after Vectra picked up 60 per cent stake in the company around two years back.

Other Vectra Group companies in India include Tatra Trucks India and construction equipment manufacturer Terex Vectra.

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