Leading defence PSU Hindustan Aeronautics Ltd (HAL) on Wednesday, June 4, has refuted a media report claiming that its negotiations with General Electric (GE) over the local production of GE414 engines have stalled. The state-run aerospace and defence company called the report factually incorrect and misleading.
An article published on a website suggested that talks between HAL and GE had faltered and that HAL was exploring engine alternatives with other manufacturers for its light combat aircraft (LCA) Mk2 programme. HAL dismissed this as false.
“HAL reiterates that negotiations with GE are on track and progressing well, and that HAL is not in talks with any other company regarding engines for LCA MK2. Any information suggesting otherwise is incorrect,” the company said in a stock exchange filing.
Also Read: HAL shares will cross levels of ₹6,000, say six analysts tracking the stock
In April this year, Defence Secretary Rajesh Kumar Singh said in an exclusive interview with CNBC-TV18 that India hopes to launch the domestic manufacturing line for General Electric’s F414 jet engines by the end of this year.
When asked about the status of negotiations between Hindustan Aeronautics Limited (HAL) and General Electric (GE), Singh said, "This year? I hope so. This is being led by HAL. We don't get into the nitty gritty of that negotiation, but on our part, we've been asking both players, as well as HAL, to try and expedite this so that our production schedule for the future Tejas — I think it's Mark 2 — doesn't get affected.”
HAL had signed a deal with GE in 2023 to co-produce GE414 jet engines in India. The GE414 engine is a key component for the Tejas Mark 2, an upgraded version of India's indigenous fighter jet. The ongoing deal with GE is expected to involve technology transfer and pave the way for local production, furthering India's long-term goal of strategic autonomy in aerospace.
Also Read: HAL shares will cross levels of ₹6,000, say six analysts tracking the stock
Shares of Hindustan Aeronautics Ltd ended at ₹4,959.75, down by ₹23.65, or 0.47%, on the BSE.
An article published on a website suggested that talks between HAL and GE had faltered and that HAL was exploring engine alternatives with other manufacturers for its light combat aircraft (LCA) Mk2 programme. HAL dismissed this as false.
“HAL reiterates that negotiations with GE are on track and progressing well, and that HAL is not in talks with any other company regarding engines for LCA MK2. Any information suggesting otherwise is incorrect,” the company said in a stock exchange filing.
Also Read: HAL shares will cross levels of ₹6,000, say six analysts tracking the stock
In April this year, Defence Secretary Rajesh Kumar Singh said in an exclusive interview with CNBC-TV18 that India hopes to launch the domestic manufacturing line for General Electric’s F414 jet engines by the end of this year.
When asked about the status of negotiations between Hindustan Aeronautics Limited (HAL) and General Electric (GE), Singh said, "This year? I hope so. This is being led by HAL. We don't get into the nitty gritty of that negotiation, but on our part, we've been asking both players, as well as HAL, to try and expedite this so that our production schedule for the future Tejas — I think it's Mark 2 — doesn't get affected.”
HAL had signed a deal with GE in 2023 to co-produce GE414 jet engines in India. The GE414 engine is a key component for the Tejas Mark 2, an upgraded version of India's indigenous fighter jet. The ongoing deal with GE is expected to involve technology transfer and pave the way for local production, furthering India's long-term goal of strategic autonomy in aerospace.
Also Read: HAL shares will cross levels of ₹6,000, say six analysts tracking the stock
Shares of Hindustan Aeronautics Ltd ended at ₹4,959.75, down by ₹23.65, or 0.47%, on the BSE.
(Edited by : Shoma Bhattacharjee)
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