Tata Group and Air India to Invest Rs 2,300 Crore in Karnataka

Tata Group and Air India to Invest Rs 2,300 Crore in Karnataka

VoM News Desk | February 19, 2024 | 01:42 PM IST | Breaking News | Follow on Google News

Tata Group and Air India to Invest Rs 2,300 Crore in Karnataka

Tata Group and Air India to Invest Rs 2,300 Crore in Karnataka

The Karnataka government and Tata Group companies, Air India and Tata Advanced Systems Limited (TASL), signed a memorandum of understanding (MoU) for an investment of Rs 2,300 crore.

The agreement, signed in the presence of Chief Minister Siddaramaiah, involves Tata Group setting up various manufacturing and R&D facilities in Karnataka.

Air India plans to establish an Airframe Maintenance Repair and Overhaul (MRO) facility at Bengaluru International Airport, estimated to employ 1,200 people, and Tata Advanced Systems Limited (TASL) will invest about Rs 1,000 crore across projects like Aircraft Conversion, Gun Manufacturing, and Research and Development in the aerospace and defense sector.

These projects are expected to create around 1,650 direct employments and strengthen Karnataka’s aerospace and defense ecosystem.

First-of-its-kind Facilities in India

Air India’s MRO facility will be the first of its kind in India, opening doors for full-scale MRO. Additionally, Tata Advanced Systems Limited’s projects, including Aircraft Conversion, Gun Manufacturing, and Research and Development, are the first of their kind in the country.

These initiatives aim to boost economic activity and air traffic through Bengaluru. Minister MB Patil highlighted the importance of streamlined government support for these projects, assuring assistance in overcoming any challenges.

The investments and projects are anticipated to further enhance Karnataka’s position in the aerospace and defense sector.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.