Bangalore: Tata Group Companies, Air India and Tata Advanced Systems Ltd (TASL) plan to invest Rs 2,300 crores in Karnataka in multiple projects which is expected to provide employment to about 1,650 people, the Government of Karnataka announced here on Monday.
Karnataka Chief Minister Siddaramaiah and Large and Medium Industries Minister M B Patil were present at the MOU signing ceremony for the project.
Patil said that Air India plans to establish Maintenance, Repair and Overhaul (MRO) facility at Bengaluru International Airport with an investment plan of Rs 1,300 crore which is expected to provide jobs to 1,200 people.
This will be first of its kind facility in India and will open doors for a full-scale MRO, Patil said.
Air India will also create an aviation hub at Bengaluru airport which is expected to increase the economic activity and air traffic through Bengaluru, the Minister disclosed.
The hub create is expected to increase the passengers handled at the airport by eight million passengers per annum thus giving direct and indirect employment to about 25,000 to 26000 people due to a boost in economic activity, support staff and tourism.
TASL is planning to set up three projects with a total investment of Rs 1,030 crore. These are Passenger to 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). These projects would provide jobs to about 450 people, an official statement further said.
TASL had plans to source more than 50 per cent of its 13000 parts from Karnataka for its gun manufacturing facility which in turn would provide jobs to about 2000 to 3000 people in 300-350 small and medium enterprises, the statement added.
