HAL, Edgewood approach FIPB for JV

The Hindustan Aeronautics Ltd has approached FIPB for setting up a joint venture company with US-based Edgewood Ventures for development and manufacture of high-technology miniature modules for aerospace applications.

In the proposed joint venture company, Edgewood Ventures sought to have 26 per cent stake and HAL the remaining 74 per cent, sources told PTI.
The proposed JV is also seeking to have collaboration with 3D Plus, France for setting up an R&D centre, besides developing new technologies. For this also HAL has approached Foreign Investment Promotion Board.

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