Saturday, Apr 13 2024 | Time 23:48 Hrs(IST)
Business Economy

Air India, Tata Advanced Systems to invest Rs 2,300 cr in Karnataka

Bengaluru, Feb 19 (UNI) Air India and Tata Advanced Systems Ltd, part of the Tata Group, are investing Rs 2,300 crore for various projects in the state, Karnataka Chief Minister Siddaramaiah said.
The investment by the Tata Group will directly create 1,650 jobs, he said.
Out of the total investment, Air India has invested Rs 1,300 crore to set up an aircraft maintenance, repair and overhaul (MRO) unit near Bengaluru International Airport, Siddaramaiah said.
As a result, 1,200 people will get direct employment and more than 25,000 jobs will be created indirectly, he said.
TASL is planning to set up three projects with a total investment of Rs 1,030 crore, a Passenger Freighter Aircraft Conversion facility (Rs 420 crore), a gun manufacturing facility (Rs 310 crore) and Aerospace and Defence Research and Development in Karnataka (Rs 300 crore).
TASL plans to supply 50 percent of the 13,000 spare parts required by the company through its gun manufacturing unit to be set up near Bengaluru Airport and in Kolar, he said.
Due to this, 2000 to 3000 people will get jobs in more than 300 small and medium industries, the CM said.
With the establishment of HAL in Bengaluru as early as 1939, the state has been at the forefront in the field of aviation. As much as 67 percent of the planes and helicopters required by the defense department are manufactured in Karnataka.
In addition, the state contributes 65 percent to the export turnover of the country's aerospace and defense sector. As much as 70% of the companies in this sector in the country are based in Karnataka.
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