Hindustan Aeronautics Limited (HAL), India’s state-owned aerospace company, according to reliable sources, is reportedly close to finalizing a deal to take over a company in Goa in order to expand its capacity to enable it to undertake helicopter maintenance, repair and overhaul (MRO) services.
According to the information available HAL’s acquisition of Goa Auto Accessories Limited (GAAL) is expected to be completed by August. GAAL, primarily an automotive component manufacturer, is currently owned by the Economic Development Corporation (EDC), an investment holding company operated by the local Goa government.
SidharthKunkalienkar, a member of the legislative assembly of Panaji, Goa’s capital city, was quoted by the source as saying, “We are confident and the discussions should be finalised by next month.
