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

air india, tata advanced systems to invest rs 2,300 crore in karnataka

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

Tata Group-owned carrier Air India and Tata Advanced Systems that makes airplane parts have proposed to invest Rs 2,300 crore in Karnataka, the state government said on Monday. The investment will also generate employment opportunities for 1,650 people.

As per the MoU (memorandum of understanding), the carrier aims to establish a maintenance, repair and overhaul (MRO) facility at Bengaluru airport, while Tata Advanced Systems will set up manufacturing and research & development facilities in the state. Tata Advanced Systems makes cargo and bulk cargo doors for European planemaker Airbus’ A320neo family of aircraft.

The Air India project entails investment of Rs 1,300 crore, while Tata Advanced Systems aims to launch three projects worth Rs 1,030 crore, including a freighter aircraft conversion facility worth Rs 420 crore, a gun manufacturing facility worth Rs 310 crore, and an aerospace & defence research and development worth Rs 300 crore, according to a report in Moneycontrol. While the Air India project is expected to generate direct employment opportunities for 1,200 people, the Tata Advanced Systems projects are expected to create job opportunities for 450 people.

The MoU quoted a study by the National Council of Applied Economic Research (NCAER) that expects passenger traffic to increase by 8 million passengers per annum due to the hub creation. This would generate employment too for 25,000-26,00 people, as well as increase tourism.

Tata Advanced Systems was awarded a contract by Airbus to manufacture cargo and bulk cargo doors of the A320neo aircraft family, which were to be produced in the company’s Hyderabad facility using cutting-edge robotics and automation technology.

(With Reuters inputs)

Watch Live TV in English

Watch Live TV in Hindi

News Related

OTHER NEWS

Aliw Awards nominations out

ALIW Awards Foundation Inc. President Alice H. Reyes has released the names of finalists for the 2023 Aliw Awards to be presented on Dec. 11, 2023, at the Manila Hotel ... Read more »

WhatsApp Web gains the feature of single-view photos and videos

WhatsApp Web gains the feature of single-view photos and videos (Photo: Unsplash) The WhatsApp Web, the desktop version of the popular messaging app from Meta, has received an update allowing ... Read more »

Young athletes’ time to shine in Siklab Awards

Young athletes’ time to shine in Siklab Awards MANILA, Philippines — The future heroes of Philippine sports will be honored during the third Siklab Youth Sports Awards on Dec. 4 ... Read more »

Local exec says 5-10 barangays still isolated in Northern Samar

Graphics by Jannielyn Ann Bigtas A local government official said Monday that five to 10 barangays in Northern Samar are still isolated following the massive flooding in the area last ... Read more »

App made by ex-jeepney driver will let you pay PUV fare, book tricycles

DyipPay app lets you pay jeepney fare, book tricycles “Barya lang po sa umaga.” Everyone who rides jeepneys knows this rule: it may not be an actual law, but it’s ... Read more »

Updated In-Season Tournament Bracket ahead of pool play finale

Updated In-Season Tournament Bracket ahead of pool play finale Tuesday will mark the last day of pool play for the inaugural NBA In-Season Tournament. From there, six first-place teams and ... Read more »

PCG forms teams for maritime emergency response

PCG forms teams for maritime emergency response MANILA, Philippines — Recent incidents of fishermen lost in the waters off Southern Tagalog have prompted the Philippine Coast Guard (PCG) to form ... Read more »
Top List in the World