New Delhi: Hindustan Aeronautics Ltd and Russian defence firms have finalised a joint venture agreement to make lightweight multi-role Kamov 226T helicopters in India, a top Russian defence official said Tuesday.
The document is awaiting formal registration with the relevant agencies in the two respective countries, which is likely to take another “month or two”, the official said.
The inter-government agreement was signed during Prime Minister Narendra Modi’s visit to Russia in December 2015.
The 200 Kamov 226T helicopters will replace the aging Cheetah and Chetak helicopters.
In October last year, Russian Helicopters, Rosoboronexport and HAL created a joint venture to localise the production of Ka-226Ts and deliver them to the Indian market in an estimated $1 billion deal.
The agreement was signed at the Brics summit in Goa last year. The deal also provides terms for maintenance, operation and repairs of the helicopters.
“Since October 2016, the project has been moving full steam ahead. We have conducted multiple negotiations, most recently in January this year,” Viktor Kladov, head of International Cooperation, Rostec, told news agency PTI.
“In January, the document work for the joint venture was completed. They have been sent for registration with the relevant government bodies,” Mr Kladov said.
Rostec Corp. is the parent company of Russian arms supplier Rosoboronexport.
When the joint venture is registered, it can start acting as a subject and negotiate terms with customers and parent firms, he said.
The schedule of delivery, localisation, terms and the number of units will be up to the venture to finalise.
“These helicopters are versatile and modular, so they can be used in military, search and rescue, medical and transport tasks. It may be sold to the regional market.”
