Pawan Hans to get mini Ratna status: Patel

NEW DELHI: Government will soon grant mini Ratna status to Pawan Hans Helicopters Limited ( PHHL) which plans to acquire 100 helicopters over the next few years, Civil Aviation Minister Praful Patel said on Thursday.

"Pawan Hans will get mini Ratna status soon. It will also have a Board of independent Directors," he said while inaugurating the new corporate office of the state-owned helicopter firm at NOIDA.

The Airports Authority of India is the only aviation PSU which has been accorded the mini Ratna status so far.

Patel said PHHL, which is already the biggest chopper company, has plans to acquire 100 helicopters in the next few years.

With a paid-up capital of about Rs 114 crore, PHHL recently paid a dividend of Rs 11.37 crore to government which holds 78.5 per cent of equity and the remaining stake being held by oil major ONGC. Since 1992-93, it has till date paid Rs 205.88 crore as dividend.

Patel's announcement about the grant of mini Ratna status came in the backdrop of the chopper firm consistently reporting profits.

Praising the company for its achievements, the Minister said Pawan Hans "should become the flag-bearer of the helicopter industry in India with a fleet of at least 100 helicopters."

"Other PSUs should take a cue from Pawan Hans seeing their growth path," Patel added.