Oil and Natural Gas Commission (ONGC), state owned public sector firm, will hike its stakes in Pawan Hans Helicopters from existing 21.5 per cent to 49 per cent according to a decision taken by the firm recently. ONGC will infuse additional funds worth Rs 96 crore in Pawan Hans.

Pawan Hans CMD R K Tyagi while addressing reports at the inauguration function of amphibian flight at the Juhu airstrip on Monday added, "The board of both the companies has given their sanction for ONGC to raise its stake to 49%. NTPC will also be making an investment of Rs 55 crore."

Mr. Tyagi said that more sea planes like Cessna 208 A would be introduced in the country, having a coastline of 7,400 km. He informed that India's first sea plane Cessna 208A has been taken on a wet lease for six months as a pilot project. The amphibian Jal Hans is capable of landing and taking-off from both land and water surfaces.

ONGC's equity infusion, according to Mr. Tyagi, is likely to get completed by the end of current fiscal. Another top public sector company NTPC had proposed to make an investment of Rs. 55 crore in the company.