News Story: India, Russia to Announce Ka-226T Helicopter Joint Venture

Kamov Ka-226T at MAKS-2009 (Image: Wiki Commons)

By: Vivek Raghuvanshi

NEW DELHI — India and Russia are to announce a joint venture agreement to produce the Ka-226T light utility helicopter on Oct. 15, the first day of this weekend's meeting in Goa, India, of the association of Brazil, Russia, India, China and South Africa, known as BRICS. 

Senior officials with the Indian Ministry of Defence (MoD) provided some details on the matter, however senior diplomats with the Russian Embassy here remained tight-lipped about the inner workings of the deal.

Senior MoD officials confirmed that India and Russia will sign a shareholders agreement for the joint venture (JV) in manufacturing K-226T helicopters in India. Under the agreement, slated to be inked during Russian President Vladimir Putin's visit during the BRICS meeting, Indian state-owned Hindustan Aeronautics Limited (HAL) will own 50.5 percent equity stake, and Russian Helicopters and Rosoboronexport will hold the remaining 49.5 percent equity.

India will acquire 200 of the light utility helicopters (LUH), out of which it will buy 60 helicopters in fly-away condition from Russia while another 40 will be assembled in India and the remaining 100 will be fully built in India, said an MoD official.

Read the full story at DefenseNews