The engine upgrade, estimated to be developed for Rs 15,000-17,000 crore, is set to lead to enhanced lifespan as well as operational capabilities for the IAF MIG 29 aircraft, sources told Zee Business.
State-run aerospace and defense company Hindustan Aeronautics Ltd (HAL) will likely produce engines for Indian Air Force (IAF) MIG fighter jets, with the PSU set to augment the aircraft’s operational lifespan through the development of the RD-33 engine, Zee Business reported in an exclusive report citing sources.
HAL has signed a Technology of Transfer (ToT) agreement with a Russian company to develop the RD-33 engine, which will be manufactured by the Indian company, according to the sources.
The project is likely to be completed within the next five years, they added.
In another major development, HAL and the Defence Research & Development Organisation (DRDO) will complete a prototype of the fifth-generation aircraft project, Advanced Medium Combat Aircraft (AMCA), by 2027, Zee Business learned from sources.
“These developments signify a significant leap towards self-reliance in defense production,” said Dr Samir V Kamat, Secretary of the Department of Defence R&D and Chairman of the DRDO.
The news comes days after the Cabinet Committee on Security cleared the Rs 15,000-crore project to design and develop the Advanced Medium Combat Aircraft (AMCA), a fifth-generation fighter multirole fighter jet.
The final rollout of the AMCA aircraft is expected in 2032, the sources further said.
Zee Business first reported the news on AMCA in May 2023 and the subsequent developments in December 2023.
At the time of publishing this report, Zee Business awaited a response from HAL on queries seeking confirmation of the development.
How analysts view HAL
The two developments underscore HAL’s pivotal role in enhancing the country’s aerospace capabilities, say analysts.
Sumeet Bagadia of Choice Broking told Zee Business that the HAL stock looked strong structurally on the charts.
Bagadia recommends buying HAL shares near Rs 3,325-3,350 levels for a short-term target of Rs 3,500.
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