HAL Signs Contract Worth Over $100 Million with Honeywell for HTT-40 Engines

HAL signed a contract worth over US$100 million for supply and manufacture of 88 TPE331-12B engines/kits along with maintenance and support services to power the Hindustan Trainer Aircraft (HTT-40). The contract was exchanged by Mr. Eric Walters, Sr. Director OE Sales, Honeywell and Mr. B Krishna Kumar, Executive Director (E & IMGT) here today in the presence of Mr. R Madhavan, CMD, HAL.

"HAL has successfully developed Basic Trainer Aircraft (HTT-40) to address the basic training requirements of the IAF. There is potential requirement of 70 aircraft. The contract for the same with IAF is under advanced stage of approval", said Mr. Madhavan.

"We are proud of our four decade long partnership with HAL and happy to extend our relationship with this new order," said Mr. Eric Walters, Senior Director OE Sales, Honeywell Defense & Space. "The TPE331-12 family of engines has proven itself in operations all over the world, and we have committed to support and deliver engines as well as kits within the stipulated schedule to meet the requirements of the IAF. Honeywell is committed to support export of HTT-40 aircraft in coming years along with other engine programmes which are currently on radar. This contract would pave the way for future collaboration between HAL and Honeywell.

The TPE331-12B engine is a single shaft turboprop engine with integral inlet and gearbox, two stage centrifugal compressor, power turbine, gearbox, three stage axial turbine and turbine exhaust diffuser as well as EEC for reliable power and outstanding operational characteristics.

The HTT-40 prototypes are powered by TPE331-12B engines and has been serving well since 2014. Entering into this 'Manufacturing & Repair license agreement for Honeywell TPE331-12B Turboprop engine' marks a major milestone in the execution of 70 HTT-40 aircraft contract with IAF. HAL is working closely with Honeywell for its support for export potential of HTT-40. HAL and Honeywell are exploring other areas such as 1MW Turbo Generators, manufacturing, Repair & Overhaul of TPE 331-10GP / 12JR engines for variants of Dornier.

Shares of Hindustan Aeronautics Limited was last trading in BSE at Rs. 1938.45 as compared to the previous close of Rs. 1881.50. The total number of shares traded during the day was 23843 in over 2549 trades.

The stock hit an intraday high of Rs. 1942.00 and intraday low of 1885.00. The net turnover during the day was Rs. 45797636.00.

Source : Equity Bulls

Keywords

HindustanAeronautics INE066F01012 HAL Honeywell HTT40 TrainerAircraft Engines Kits