Hindustan Aeronautics inks pact worth $100 million with Honeywell for HTT-40 Engines; stock rises

Hindustan Aeronautics Limited introduced signing a contract valued at over $100 million. The contract is for the provision and manufacturing of 88 TPE331-12B engines/kits and upkeep and assist providers to energy the Hindustan Coach Plane (HTT-40).

Eric Walters, Sr. Director OE Gross sales, Honeywell, and B Krishna Kumar, Government Director (E & IMGT) signed the contract at the moment within the presence of Mr. R Madhavan, CMD, HAL.

“HAL has efficiently developed the Fundamental Coach Plane (HTT-40) to fulfill the IAF’s fundamental coaching necessities. A complete of 70 plane could also be required. The contract with IAF is within the last phases of approval,” Madhavan said.

The TPE331-12B engine is a single-shaft turboprop engine with an integral inlet and gearbox, a two-stage centrifugal compressor, an influence turbine, a gearbox, a three-stage axial turbine, and a turbine exhaust diffuser, in addition to EEC for reliable energy and glorious operational traits.

The HTT-40 prototypes have been in service since 2014, powered by TPE331-12B engines. The signing of this ‘Manufacturing & Restore license settlement for Honeywell TPE331-12B Turboprop engine’ marks a big step ahead within the execution of the IAF contract for 70 HTT-40 plane.

HAL is collaborating carefully with Honeywell to assist the export potential of the HTT-40.

HAL and Honeywell are trying into different areas corresponding to 1MW Turbo Turbines and the manufacturing, restore, and overhaul of TPE 331-10GP / 12JR engines for Dornier variants.

At round 9.29 AM, Hindustan Aeronautics was buying and selling at Rs1,944.90 up by Rs6.45 or 0.33% from its earlier closing of Rs1,938.45 on the BSE. The scrip opened at Rs1,960 and touched intraday excessive and low of Rs1,968.50 and Rs1,942.85 respectively.