HAL to go in for Rs 20,000-cr makeover

Bangalore: India’s premier public sector defence units are set to build up capacities in a significant way to meet the flood of defence-manufacturing requirement projected in the country under evolving defence procurement and production regimes.
Aircraft manufacturers Hindustan Aeronautics Limited (HAL) announced a Rs 20,000 crore plan over 10 years for modernising its plants and hinted at a possible public offering like its giant PSU cousins Bharat Electronics Limited and Bharat Earth Movers Limited at the Aero India 2011 here on Thursday.
BEML, meanwhile, announced plans to set up a Rs 350-crore aerospace engineering facility while BE indicated negotiations for tie-ups with global defence radar majors like the British Thales and the Israeli Rafael in a push to achieve a target of $300 million to $500 million offset business in the next three to five years from current marks of $60 million.
11/02/11 Johnson TA/Indian Express

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