HAL SIGNS A LONG TERM BUSINESS
AGREEMENT WITH ONGC
A Long Term Business
Agreement (LTBA) for overhaul and repair of Oil and Natural Gas
Commission’s (ONGC) Industrial Avon engines by Hindustan Aeronautics
Limited (HAL), Bangalore was signed between the two top ranking
PSUs last week at Mumbai. The agreement was signed on behalf of
the HAL by General Manager IMCT Division, while on behalf of ONGC,
the agreement signed by General Manager Mechanical. The Managing
Director, HAL Shri AK Saxena and Executive Director, ONGC Shri
Kharak Singh and large number of senior officials from both the
public sector undertakings were present. The agreement would be
valid for a period of five years.
Shri AK Saxena
and Shri Karak Singh said that it is for the first time that two
leading public sector undertakings have come together to forge
a long-term business relationship. The two officials expressed
satisfaction over the mutually beneficial cooperation and said
that signing of LBTA would open up new business avenues.
