Tatas investing Rs1,000 crore in three joint ventures at Adibhatla aerospace SEZ
18 Jan 2011
The Tata Group is investing around Rs1,000 crore for setting up three joint venture projects in the Aerospace Special Economic Zone at Adibhatla, near Hyderabad.
Group companies Nova Integrated System, Tata Aero-Structure Ltd and Tata Aerospace Systems Ltd will collaborate with overseas partners for setting up manufacturing units in the Adibhatla aerospace SEZ.
Nova Integrated System will manufacture radar and electronic equipment for defence while Tata Aero-Structure Ltd will assemble aircraft equipment and Tata Aerospace Systems will manufacture aircraft parts.
The overseas partners are expected to visit India next month during the Aero Show in Bengalooru and, sources said, the Tatas would be conducting ground-breaking ceremony for the projects in the presence of their overseas partners, state government sources said.
Tata Group chairman Ratan Tata had earlier announced plans to make Hyderabad their aerospace hub.
Sources said Ajith Bhavnani, chief executive of Nova Integrated System, had met chief minister N Kiran Kumar Reddy and discussed the proposed projects.
"The three projects will attract an investment of Rs1,000 crore and provide direct employment to 1,000 persons. The government is in the process of allotting 125 acres of land in the SEZ to the companies," the sources said.
Tata Aerospace Systems is already operating a unit for manufacturing helicopter cabins at the Adibhatla SEZ.