Taneja Aerospace to set up aeropark at Hosur

Bangalore-based Taneja Aerospace is to float a joint venture with the state-owned TIDCO to create a new facility at Hosur as part of
expanding its interest in aerospace there. The TN agency is set to pick up a small stake in the venture to play the role of a facilitator.
Taneja Aerospace plans to expand its existing facility at Hosur by acquiring an additional 250-300 acres. The land and infrastructure creation envisages an investment of Rs 300 crore, a top Government official told ET.
A new company or a special purpose vehicle will not be formed for the venture as Tidco’s share would be of a participatory nature only. The new unit would exploit the opportunity in the MRO — maintenance, repair and overhaul — and in the manufacture of aero parts, the official said.
A senior official of Taneja Aerospace said discussions were on with several agencies, including Tidco. He, however, declined to divulge details of the latest project.
It is learnt the State’s inherent strength in terms of talent reservoir is said to have influenced the company to select Hosur for developing it as an aerospace hub. Hosur is also close to Bangalore, where the industry is well established.
29/04/09 Hemamalini Venkatram/Economic Times

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Categories: Indian Aviation- In General Apr 2009