Page 32 - IACC Newsletter October November 2013 Issue 13

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India, US sign Rs 4,000-crore deal for six Super Hercules aircraft
IAF already has six C-130Js tactical airlift aircraft, ordered for $962 million in 2007, which are based at the Hindon airbase on the outskirts of Delhi
India has signed Rs 4,000-crore deal with the US for procuring six more C-130J Super Hercules Special Operations aircraft
for the Indian Air Force. The proposal was cleared by the Cabinet Committee on Security (CCS) headed by Prime Minister
Manmohan Singh on December 20.
The two sides signed the deal yesterday under which the US Air Force will supply the aircraft to the IAF through the
Foreign Military Sales route, sources said here. The IAF already has a fleet of six similar planes which are deployed at the
Hindon air base near here and the force uses it for carrying out special operations including landing on inhospitable air
strips in the Ladakh area.
The IAF had acquired the first lot of six aircraft at a cost of around Rs 5,500 crore. The new lot of six planes will be located
at Panagarh in West Bengal, which would be headquarters of the proposed Mountain Strike Corps of the army along the
China border. The aircraft is capable of airdropping commandos and material in darkness due to its night-vision imaging. It
can prove very handy in wartime due to its ability for special air operations and transport of material and supplies.
It can be used in mountainous terrain in hostile circumstances. The four-engine plane with Rolls Royce engines has the
technology and configuration to perform low-level precision flying.
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Massachusetts headquartered Advent International in talks to buy stake in
Hyderabad based Laurus Labs
US-based private equity (PE) major Advent International is in talks with Hyderabad-based Laurus Labs Private Limited
(Laurus) to buy a stake in it. The discussion is for raising funds to the tune of Rs 300 crore. The PE investor is likely to pick a
10-15 per cent stake in Laurus.
The proposed capital will be used for Laurus’ capacity expansion. Earlier, Chava Satyanarayana, founder and chief
executive officer of Laurus, had said the company would set up two new manufacturing facilities to take the total capacity
to 1.4 million litres from its current capacity of 800,000 litres.
In February 2012, Fidelity Growth Partners India had invested Rs 200 crore in Laurus, acquiring a minority stake in it. Along
with Fidelity, Chava Satyanarayana had also participated in the first round of financing. A mail sent to Ravi Kumar,
executive director (finance), Laurus Labs, did not elicit any response, while Shweta Jalan, managing director, Advent India
PE Advisors, did not respond to email queries.