In late December 2006, Hindustan Aeronautics (HAL) announced a $700-million joint venture (JV) agreement with Irkut Corporation of Russia for manufacturing 60-tonne multi-role transport aircraft (MRTA). Under this 50/50 arrangement with HAL, Ilyushin Design Bureau of Russia would design the MRTA (now MTA) and Irkut corporation of Russia will develop the aircraft, while series production would be taken up by the transport aircraft division of HAL at Kanpur.
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