HAL & Safran to invest INR 170 crore in state owned company

Q.  Hindustan Aeronautics and French partner Safran will invest INR 170 crore to acquire which state owned company in Goa?
- Published on 25 Jul 16

a. Goa Accessories Ltd
b. Goa Auto Accessories Ltd
c. Goa Auto Home Ltd
d. Goa Auto Business Ltd

ANSWER: Goa Auto Accessories Ltd
 
Hindustan Aeronautics and French partner Safran will soon invest INR 170 crore to acquire defunct state owned company in Goa.
  • Acquired company’s land assets will be used as a unit for servicing military helicopter engines.
  • HAL and Safran which is an aircraft engine manufacturer said they will form a venture for MRO of helicopter engines used in the nation and other countries.
  • 50:50 entity will be placed around October with each partner contributing INR 25 crore as per shareholder agreement.
  • New company will acquire the land and assets of Goa Auto Accessories Ltd in Honda, Sattari about 40 km from Panaji in north Goa.

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