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Hindustan Aeronautics wins $177 million deal for Indian Air Force
February 5, 2015 / 1:27 PM / 3 years ago

Hindustan Aeronautics wins $177 million deal for Indian Air Force

NEW DELHI (Reuters) - State-run Hindustan Aeronautics IPO-HIAE.NS has won a 10.9 billion rupee ($177 million) deal to supply the Indian Air Force with 14 new turboprop Do-228 aircraft, the ministry of defence said on Thursday.

Prime Minister Narendra Modi’s government wants to modernise India’s armed forces by replacing ageing equipment with home-made hardware built by local and foreign companies, and cut back on what is the world’s largest import bill for arms.

HAL has so far manufactured 125 Do-228 transport planes the ministry of defence said in a statement.

($1 = 61.7467 rupees)

Reporting by Tommy Wilkes; editing by David Clarke

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