Bangalore: Even as Bangalore is holding the eighth edition the Aero India 2011, Karnataka is making a headway in becoming an aerospace giant with 28 aerospace companies promising an investment of Rs.10,000 crore in the state.
The biggest Indian aerospace project would be of Mahindra Aerospace Pvt Ltd which has received clearance from the state government for their Rs. 284 crore project in Kolar.
“Mahindra will be setting up the plant in Kolar, but other than that we have already approved 27 aerospace plants that will be set up in the Aerospace Park near Devanahalli,” V P Baligar,Principal Secretary, Industries and Commerce, told The New Indian Express.
Through the investments,the State is looking at a turnover of `10,000 crore through various projects in the Aerospace Park alone, Baligar explained.
Mahindra which has recently acquired a majority stake in two Australian companies Aerostaff Australia and GippslandAeronautics, however, will be building the aerospace components, aero structure and assemblies line at its 12 acre plant in Narasapura Industrial Area, Kolar.
The State Industries and Commerce Department is pitching hard for the Aerospace Park and so for the first time, it has also setup a stall at the Aero Show 2011.
10/02/11 ExpressBuzz
Posts Tagged 'Karnataka'
Karnataka all set to become aerospace giant
Published February 10, 2011 Uncategorized Leave a CommentTags: Aerospace SEZ, Karnataka
Aero India: Karnataka sets $100 billion investment target over next decade
Published February 9, 2011 Uncategorized Leave a CommentTags: Investment, Karnataka
Bangalore: Seeking to take advantage of the Aero India event, Karnataka has set a target of attracting $100 billion investments in the aviation sector in the coming 10 years.
Chief minister B S Yeddyurappa and state’s chief secretary SV Ranganath during a meeting with delegates of US India Business Council (USIBC) held here on the eve of Aero India show said business environment was conducive in Bangalore and the government plans to attract over $100 billion in next 10 years.
The state government has set up an aerospace park near Bengaluru International Airport, Yeddyurappa told the delegation.
“The city is already recognised as aerospace hub of the country and has more than 65% of the country’s investment in the sector here. Besides big presence of public sector enterprises, many international private players have invested in aerospace sector in the state,” Ranganath said.
He said a study conducted by Federation of Indian Chamber of Commerce and Industries has brought out the fact that 90 per cent of the investors have expressed that they would like to reinvest in the state.
08/02/11 PTI/Daily News & Analysis
