The Karnataka government has completed acquisition of around 800 acres for setting up the proposed Aerospace Park near the Bangalore international airport at Devanahalli, about 35 km from the city. The government is looking to attract global aerospace majors and small and medium enterprises, said a senior official on Friday.
"We have proposed to facilitate setting up of manufacturing and ancillary units for domestic and export markets in the aerospace sector," Raj Kumar Khatri, commissioner for industries, told reporters in Banglore.
The state government will earmark about 250 acres in the park to create a special economic zone with incentives and facilities offered by the central government for 100 per cent dedicated export units, he said.
"At the Aero India 2011, which will held from February 9-13 in Bangalore, we will showcase Bangalore as an ideal destination for investing in this sunrise sector. The presence of various state-run Defence Research and Development Organisations, scientific and educational institutions and defence behemoths such as Hindustan Aeronautics Ltd and Bharat Electronics Ltd provides an ecosystem to promote the aerospace industry in a big way," said Khatri.
Coinciding with the eighth Aero India 2011 trade fair in the city next week, the state government has scheduled series of meetings with global firms and business delegations to discuss investments in wholly-owned subsidiaries, joint ventures and expansion of their existing operations in the country.
Business delegations from Germany, France, Russia, the US and other countries will explore investment opportunities in the Aerospace Park in their meetings with Chief Minister B S Yeddyurappa and top officials during the upcoming air show, said Khatri.
A 35-member American delegation, led by Indo-US Business Council president Ron Somers and representatives from Boeing, Lockheed Martin, Honeywell and Raytheon will call on the chief minister on February 8 to discuss investment proposals.
Similarly, Rolls-Royce India president Anil Shrikhande and Honeywell Technology Lab Krishna Mikkilineni will call on state industry minister Murugesh R Nirani and officials on February 9, followed by a delegation from North Carolina in the US, headed by its commerce department secretary J Keith Crisco on February 10.
"We are looking forward to signing a few agreements with global and Indian firms for investments in the aerospace sector and for setting up their operations in the upcoming park," Khatri added.
Lockheed Martin India Ltd director Jagmohan Singh, UK-based Wolver Hampton city council head Joy Patel and a delegation from the French aerospace industries association will also be calling on the chief minister to discuss their interests in the Aerospace Park.