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State-owned HAL and Bharat Forge Limited have signed an agreement for development and production of aerospace grade steel alloys.
The Memorandum of Understanding (MoU) was signed at the ongoing Aero India show in Bengaluru on Thursday, the two entities said in a joint statement.
"Hindustan Aeronautics Limited (HAL), Foundry & Forge (F&F) Division, Saarloha Advanced Materials Pvt Ltd (Saarloha) and Bharat Forge Limited (BFL), signed an MoU for collaboration in development and production of aerospace grade steel alloys," it said.
"Manufacturing of specialty steel would play a significant role in realising the success of national aerospace & defense programmes under 'Atmanirbhar Bharat' initiative," R K Goyal, Director at Saarloha, said.
There are very limited approved/qualified domestic suppliers for various types of aerospace grade steel alloys used in aircraft applications. Due to this, such alloys are getting imported, creating dependency on foreign steel manufacturers, Guru Biswal, CEO - Aerospace Division of Bharat Forge, said.
According to M S Venkatesh, Executive Director - F&F at HAL, the development of aerospace grade raw materials in the country will help HAL in maintaining its commitment to armed forces and will also reduce nation's dependency on foreign OEM's (original equipment manufacturers) with respect to raw materials.
Saarloha and Bharat Forge Limited are part of Kalyani Group.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Thu, February 16 2023. 23:08 IST
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