Tata Group companies to invest Rs 2,330 crore in Karnataka
Tata Group companies- Air India and Tata Advanced Systems Limited (TASL) – on Monday said they have signed a pact with Karnataka government to invest about Rs 2,330 crore in the state
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Bengaluru, 19 February: Tata Group companies- Air India and Tata Advanced Systems Limited (TASL) – on Monday said they have signed a pact with Karnataka government to invest about Rs 2,330 crore in the state.
As part of the investment proposal, Rs 1,300 crore will be spent by Air India towards setting up a Maintenance Repair Overhaul (MRO) and Aviation Hub in Bengaluru. This project will generate direct employment for about 1,200 people.
The Hub, according to the National Council of Applied Economic Research, will increase the ability of handling of passengers in Bengaluru International Airport by 8 million per annum, according to a note from the Chief Ministers’ Office (CMO). This is expected to create indirect employment for more than 25,000 people due to boost in business activity and tourism in the state.
Similarly, Tata Advanced Systems Ltdwill set up three projects at a cost of Rs 1,030 crore. These include passenger to freighter aircraft conversion facility at a cost of Rs 420 crore, gun manufacturing facility at Rs 310 crore, and a research and development facility in Karnataka at Rs 300 crore.
These three projects will generate direct employment for about 450 people. Meanwhile, more than 50 per cent of the parts required at the gun manufacturing unit will be sourced from Small and Medium Enterprises (SMEs) in Karnataka, the state government said in a release. This is estimated to provide employment to around 3,000 people in various SMEs of the state.
