New Delhi, Sep 2 (IANS): The Cabinet Committee on Security, chaired by Prime Minister Narendra Modi, on Monday, approved a proposal for the procurement of 240 aero-engines (AL-31FP) for the Su-30 MKI aircraft of the Indian Air Force (IAF), an official statement said.

The procurement will be done under the Buy (Indian) category from Hindustan Aeronautics Ltd (HAL), at an overall cost of Rs 26,000 crore, inclusive of all taxes and duties.

According to the Ministry of Defence, the delivery of these aero-engines would start after one year and be completed over a period of eight years.

The engines will have indigenous content over 54 per cent enhanced due to indigenisation of some key components and will be manufactured at Koraput division of HAL, the statement added.

The Ministry that the Su-30 MKI is one of the most powerful and strategically-significant components of the IAF's fleet and the supply of these aero-engines by HAL would meet the fleet sustenance requirement to continue their unhindered operations and strengthen the defence preparedness of the country.

Just last week, Defence Minister Rajnath Singh had informed that the 'GE-414' engines for the fighter jets will now be made in India. He marked it a remarkable progress in the country’s engine-making capability. He referred to his recent US visit, stating that he had fruitful discussions with the US defence companies and they are excited to join the ‘Make In India’ programme. Rajnath Singh stressed that there was a time when the country relied on other countries to meet its defence needs, and about 65-70 per cent of defence equipment was being imported. But this has changed today, he said, highlighting that 65 per cent is being manufactured on Indian soil and only 35 per cent is being imported.