State-owned Hindustan Aeronautics (HAL) on Thursday announced a Rs 20,000-crore plan for modernising its plants and hinted at the possibility of the company going public and being listed on stock market.
Addressing a press conference at Aero India 2011, HAL Director (Finance) D Shivamurthi said ?the company plans to spend Rs 20,000 crore for modernising its facilities over the next ten years which would be funded through internal accruals.?
HAL already has reserves of Rs 9,000 crore and proposed to add Rs 1,500 crore every year, he informed the mediapersons. HAL has 19 production divisions and ten R & D centres in the country. Shivamurti said the company plans to design, develop and manufacture 1,500 helicopters over the next ten years. Shivamurthi indicated that HAL is keen to go public and be listed on the stock exchanges but added that no final decision has been taken.