HAL Updates On Helicopter Factory Project In Karnataka
Hindustan Aeronautics Limited (HAL) informs that during the Aero India 2019 held in Bengaluru, HAL has signed an MoU with CPWD for execution of stage-wise infrastructure development of its Helicopter Factory, near Tumakuru, the foundation stone of which was laid on 3rd January 2016 by Hon'ble Prime Minister of India for construction of Factory.
Subsequently, KSPH & IDSL had taken up the construction of peripheral compound wall. Further, HAL Board in its 402nd meeting on 15th February 2017 accorded approval for entering into MoU with CPWD for execution of works for Stage-1 of Phase-1 infrastructure development at New Helicopter Factory. Accordingly, MoU was signed between HAL and CPWD on 23rd February 2017 for Stage-1 of Phase-1 infrastructure development.
Present Status of Stage -1 is as follows:
(a) Heli Runway, Taxiway, Apron, Aircrew and Ground crew building have been completed;
(b) Hanger and other remaining facilities as per stage 1 are expected to be progressively completed by Sept 2019.
HAL Board in its 422nd Meeting held on 8th January 2019 accorded approval for concluding MoU with CPWD for Stage-2 of Phase-1 infrastructure development works at New Helicopter Factory. The MoU was signed on 22ddFebruary 2019 during Aero India-2019.
It may be noted that the fact that the Prime Minister of India had laid down the foundation stone for our new Helicopter Manufacturing Facility for production of three-ton class Light Utility Helicopter (LUH), has already been disclosed by the Company in the Prospectus filed with the SEBI, Stock Exchanges and ROC, Bengaluru.
Since, it is just only an MoU signed between HAL and CPWD for executing some portion of Civil Work for Stage-2 of Phase-1 infrastructure development of the Factory, which has not been covered under Para A or B of Part A of Schedule III of SEBI (LODR), Regulations, 2015, and also would not have any material impact on the Company, it was felt appropriate not to intimate the Stock Exchanges on the matter.