AxisCades Plans ₹6,000 Crore Investment in Karnataka's Aerospace Sector
AxisCades to invest Rs 6,000 crore in Karnataka's aerospace sector
Image: Asianet Newsable
AxisCades Aerospace Infrastructure Private Limited, based in Bengaluru, will invest ₹6,000 crore (approximately $720 million USD) in Karnataka's aerospace sector. The project aims to create an integrated hub for manufacturing and R&D, generating 20,000 direct and 54,000 indirect jobs over multiple phases.
- 01The total investment will be executed in phases: ₹1,290 crore in the first phase, ₹2,898 crore in the second, and ₹1,512 crore in the third.
- 02The integrated hub will cover 200 acres and focus on aerospace, defence, semiconductor, and AI sectors.
- 03AxisCades plans to establish a domestic research and development centre in collaboration with global partners.
- 04The company intends to develop infrastructure for missile subsystems, radar systems, and MRO facilities for fighter aircraft.
- 05Land acquisition is planned near Devanahalli, with a proposal to build a 1.8-km runway.
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Bengaluru-based AxisCades Aerospace Infrastructure Private Limited is set to invest ₹6,000 crore (approximately $720 million USD) in Karnataka's aerospace sector, as announced by Industries Minister MB Patil. The investment aims to create an integrated hub over 200 acres for manufacturing, testing, and maintenance in various high-tech sectors, including aerospace, defence, semiconductors, and Artificial Intelligence (AI). The project is expected to generate 20,000 direct and 54,000 indirect jobs in the state. The investment will occur in three phases: ₹1,290 crore in the first phase, followed by ₹2,898 crore in the second, and ₹1,512 crore in the third phase. To facilitate this project, AxisCades has requested land near Devanahalli and plans to construct a 1.8-km-long runway. The minister has suggested considering other nearby airports if needed, but the company prefers proximity to its existing unit in Devanahalli. Senior officials from both the government and AxisCades participated in discussions to advance this significant investment.
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This investment will significantly boost local employment and infrastructure in Karnataka's aerospace sector.
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