Karnataka gets Rs 4.3 billion investments in aerospace sector

Bangalore: Nine Indian firms, including IT bellwether Wipro and automotive major Mahindra and Mahindra have submitted investment proposals worth Rs 4.3 billion ($94.2 million)to the Karnataka government to set up manufacturing units in the aerospace-cum-aviation sector, a senior official said Sunday.
"The proposals have potential to generate about 2,000 direct skilled jobs and about 4,000 indirect jobs in Bangalore urban and rural districts and in the adjacent Kolar district, as the companies intend to set up production facilities for aerospace parts, actuators, components, aero structure and assemblies," state industry department joint director T.K. Swaroopa told IANS.
Among them, Mahindra Aerospace Ltd has committed to invest Rs 2.84 billion to set up a manufacturing unit for aerospace components and aero structures and assemblies at Narasapura industrial area in Kolar district, about 100 km from here.
Similarly, Wipro plans to set up an aerospace special economic zone (SEZ) with Rs 530 million investment in the proposed Aerospace Park at Devanahalli, about 40 km from the city.
"The companies made the investment proposals at the five-day AeroIndia (2011 military-cum-civil aviation trade expo) since Feb 9 where the state government participated to showcase its offerings to woo global majors to invest in the Aerospace Park," Swaroopa said.
13/02/11 IANS/Economic Times

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Categories: Indian Aviation- In General Feb 2011