Air India and Tata Advanced Systems Limited (TASL) companies that invest in Bengaluru in various aerospace and defence-related projects. On Monday these two companies signed a memorandum of understanding (MoU) with the Karnataka government to invest a total of Rs 2,300 crore in the aerospace and defence industries of the state.
Chief Minister Siddaramaiah, along with Minister of Large and Medium Industries, M B Patil was present at a signing for a Memorandum of Understanding. According to an official announcement, Air India plans to set up a Maintenance Repair and Overhaul (MRO) facility total investment ₹ 1300 crores in Bengaluru, Karnataka state, and Tata Advanced Systems plans to set up production and R&D centres in Karnataka. For the A320neo class of aircraft manufactured by European aviation manufacturer Airbus, Tata Advanced Systems provides bulk and cargo doors.
TASL Plans to Start three projects
According to a Moneycontrol report, Tata Advanced Systems plans to start three projects total investment of Rs 1,030 crore. a freighter aircraft conversion facility worth Rs 420 crore, a rifle manufacturing facility worth Rs 310 crore, and aerospace and defence research and development worth Rs 300 crore.
It is projected that the Air India project will create 1,200 direct job opportunities, and the Tata Advanced Systems plans will lead to the creation of 450 possibilities for employment.
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A National Council of Applied Economic Research (NCAER) study claims aviation hub development will increase the number of passengers handled by eight MPPA (Million Passengers Per Annum), creating direct and indirect job opportunities for 25,000–26,000 people in Karnataka through increased business activity, assistance workers, and the tourism industry.
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