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The Defence Minister said Full Scale Engineering Development (FSED) Phase 1 for Light Combat Aircraft (LCA) was sanctioned in 1993.
The 60,000-hour milestone was reached on July 11, seven weeks ahead of schedule and satisfies the full scale engineering development (FSED) requirement for the airframe detail specification.
The loss for the second quarter was principally due to growth in the total estimated cost at completion on a large fixed price full scale engineering development contract for the Navy which is expected to be finished during the first half of 1994.