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The shares of Hindustan Aeronautics Limited (HAL) surged 3.27 per cent to trade at ₹4,841.10 on the NSE today at 11.28 am.
The Cabinet Committee on Security (CCS) approved a major procurement of 240 AL-31FP aero-engines for the Indian Air Force’s Su-30 MKI aircraft from HAL. The deal, valued at over ₹26,000 crore, includes taxes and duties. The engines will be produced under the ‘Buy (Indian) category’, emphasising local manufacturing with over 54 per cent indigenous content.
The aero-engines will be manufactured at HAL’s Koraput division, with deliveries scheduled to commence a year later and executed over an eight-year period. The procurement is critical to maintain the operational capabilities of IAF’s Su-30 MKI fleet.
The deal reinforces HAL’s role as a key supplier in India’s defence manufacturing sector.
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