India, Russia enter into $ 600 million JV to develop new aircraft
IRNA - Islamic Republic News Agency
New Delhi, Feb 13, IRNA -- India and Russia would establish a fifty-fifty Joint Venture (JV) in the next few months to develop a multi-role transport aircraft at a cost of USD 600 million, a top Russian official said in Bangalore on Thursday.
While Bangalore-headquartered Hindustan Aeronautics Limited (HAL) would be the Indian partner, the Russian side would identify its partners, likely to be United Aircraft Corporation's (UAC's) transport and cargo divisions, in the next few weeks, PTI reported quoting President and Chairman of UAC, Alexey I Fedorov as said.
The jointly developed transport aircraft would be inducted into the Russian and Indian Air Force (IAF), he said on the sidelines of the ongoing South Asia's biggest airshow 'Aero India-2009'.
On Mig-35 not being inducted in Russian Air Force and its "negative impact" on India's request for proposals which requires the aircraft to be serviceable in India, Fedorov said, "I understand... India... disappointed", but declined to elaborate.
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