And with the country’s aerospace industry revenue estimated at US$100 billion, growing at an average of 25 per cent a year, opportunities are aplenty.
Realising this potential, the State has been keen on develoing specialised zones for the same —— while the launch of Quest Global Economic Zone-SEZ at Hattargi in Hukkeri taluk, near Belgaum has kick started the process of tapping the opportunities in this sector —— the aerospace park to be developed near Devanahalli is gathering steam.
Speaking to Deccan Herald, Karnataka Industrial Areas Development Board (KIADB) Chief Development Officer T R Swamy said that KIADB has acquired 3,000 acres of land of which 60-65 per cent will be available for allotment.
The area will also comprise an export-oriented aerospace SEZ across 250 acres of land. To be developed in association with the Society of Indian Aerospace Technologies and Industries (SIATI) near the new airport, the park is being set up to have production-based activities, thereby, meeting demand of the domestic industry and also add up to the exports share. The park will include aviation MRO-(maintenance, repair, overhaul) related activities.
Describing aerospace as the ‘next big thing’ Commerce & Industry Commissioner Raj Kumar Katri said “a lot of activity is taking place in the aerospace sector, with a few foreign firms including one from Britain have shown interest in investment,” adding that the State will see a few joint ventures through Hindustan Aeronautics Limited (HAL), among other projects setting base in Karnataka.
Govt of India agencies
Although KIADB was initially to acquire land and develop it for the SEZ, the government is now planning to hand over the development part to Government of India agencies.
Further, Swamy conceded that KIADB is mooting to charge about Rs 150 lakh per acre for allotments at the park as KIADB will incur significant cost. We have already paid Rs 70 lakh in compensation, will spend more on water which is planned to be brought in from Raja Canal —— about 55 KM from the proposed park, he added.
Meanwhile, informed sources from Karnataka Udyoga Mitra (KUM), the nodal agency to clear projects at the single window level, said that there is a proposal to set up an aerospace SEZ around the park and that the proposal is awaiting Commerce Ministry’s clearance.
Liked the story?
0
0
0
0
0
