ONGC
Querist : Anonymous
Querist : Anonymous
Querist : Anonymous
MUMBAI: Public sector explorer ONGC has decided to increase its stake in Pawan Hans Helicopters from its current holding of 21.5% to 49% by infusing an additional Rs 96 crore.
The announcement was made at the Juhu airstrip on Monday where Jal Hans, the first scheduled amphibian flight operations in the country, was launched.
"The board of both the companies have given their sanction for ONGC to raise its stake to 49%. NTPC will also be making an investment of Rs 55 crore," said Pawan Hans CMD R K Tyagi. The first Cessna 208 A sea plane bought by Pawan Hans for the operations was inaugurated on the occasion.
The eight-seater passenger aircraft will fly between the three islands of Andaman and Nicobar - Port Blair, Haverlock and Diglipur - from December 30.
" India has a coastline of 7,400 km and there should be plans to bring in more seaplanes," said civil aviation minister Praful Patel, adding that 100% foreign direct investment is allowed in seaplane operations.
Read more: ONGC to up stake in Pawan Hans - The Times of India https://timesofindia.indiatimes.com/business/india-business/ONGC-to-up-stake-in-Pawan-Hans/articleshow/7176022.cms#ixzz19NUwuzSG
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