Bangalore, June 4:

Karnataka has already attracted Rs 10,000 crore worth investments for its proposed Bangalore Aerospace Park.

According to Mr M.N. Vidya Shankar, Secretary for Commence and Industry, the aerospace park will come up near the Bangalore international airport near Devanahalli on 968 acres.

For developing Bangalore Aero Park, the State government's High Level Clearance Committee, headed by the Chief Minister, Mr D.V. Sadananda Gowda, recently cleared the proposal of Sun Forest City Ventures Ltd.

Sun Forest City is planning to build Bangalore Aerospace Park (named Project Vayu) with a complete ecosystem for aerospace industries. The total project cost is Rs 9,394 crore.

The project is expected to be taken up in three phases, spread over 12 years and is likely to offer employment to 2.42 lakh people.

Mr Vidya Shankar said The project developer has already lined up major aerospace investments to the tune of Rs 10,000 crore for its phase I and has already given us time lines for executing phase II and III.

The Government of Karnataka will be unveiling at the Global Investors Meet (GIM) to be held in Bangalore from June 6 to 8.

The portal will display all the developments of project proposals made at the GIM.

Mr Vidya Shankar said The portal will be monitoring mechanism and display all projects details for which MoUs were signed during GIM 2010 and the ones to which we will be signing in GIM 2012.

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Aerospace park: State gets Rs 10,000-cr worth investments