The State is planning to set up its maiden aerospace industrial park with a projected investment of $ 2 billion, the commissioner for industrial development, Dr Raj Kumar Khatri said on Tuesday 10th. May. 2011.

The aerospace park, spread over 900 acres with an inclusive special economic zone (SEZ) of 252 acres, is expected to be operational in the next three to four months, next to Devanahalli International airport. Mr Khatri said the state government is in the final stages of land acquisition and the allotment to the various companies will happen in the next three months. Already over 46 companies, including Hindustan Aeronautics Limited (HAL), Wipro and BEML, have evinced interest in setting up their operations worth Rs 5,000 crore in the aerospace park.

The companies investing in this park would be engaged in activities such as component manufacturing, training academies and software development. The public-sector firm BEML is planning a Rs 316-crore facility in the designated zone to provide design and manufacturing services in aircraft components, sub-assemblies and MRO activities. Dynamatic Technologies and Starracheckert Machine Tools will invest Rs 465 crore and Rs 127 crore to set up aerospace component units.

Besides, the State is also actively looking at a large aerospace company to set up their operations in the park which would act as the anchor client for other small and medium firms to run their operations.

Source: 11. May. 2011, EC