Investments worth Rs 1,500 cr committed for special eco zone <\/p>\n
Hyderabad, Nov. 1: <\/p>\n
The countrys first aerospace SEZ is all set to take wings in Adhibatla on the outskirts of Hyderabad. About 20 small and medium enterprises (SMEs) and a few big players have committed an investment to the tune of Rs 1,500 crore. <\/p>\n
Located about 15 km from the Rajiv Gandhi International Airport, the facility will see action beginning on November 4. <\/p>\n
At least half a dozen companies will begin work on the day, when the Andhra Pradesh Chief Minister, Kiran Kumar Reddy, is expected to kickstart activity at a foundation laying function. <\/p>\n
The Aerospace & Precision Engineering SEZ venture can provide direct employment of 10,000 and indirectly to another 18,000 in the next three years, as these manufacturing units, turn fully operational. The projected annual turnover is Rs 2,500 crore and exports to the tune of Rs 400 crore. <\/p>\n
Among the SMEs that have taken land are Motion Dynamics, Gagan Aerospace, Aeroc Space Tech, Hemmair, Apollo Aerospace, DSR Tech, Lokesh Machine Tools, Gowra, Ratna Tools, Castall Tech, Compu Power, Rolon Seal, Revathy Industries etc., said M.M. Sreeram, Executive Director of Samuha Engineering Industries. <\/p>\n
Samuha is a consortium of Aerospace Industries, which will anchor the development of the Aerospace Park. MTAR, SEC Industries, Ananth Technologies, Zetatek, Scarlet and SKM Technologies are the main promoters. <\/p>\n
At present, the Tatas have made major investments in a couple of ventures in the area, including in the SEZ. In the joint venture with Sikorsky, it is manufacturing helicopter cabins. The existence of a large number of SMEs with diverse expertise in Hyderabad has drawn the Tatas in a big way. Similarly, several other multinationals are showing keen interest, Sreeram said. <\/p>\n
The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) has allocated 193 acres at Adhibatla. Of this, 100 acres will be for the SEZ for which the Corporation is a co-developer. The 93 acres in the domestic tariff area (DTA) has been allotted to Samuha as a lead developer and to allot land to other member units, explained Jayesh Ranjan, Managing Director of the Corporation. <\/p>\n
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India\u2019s first aerospace park ready for take-off<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Investments worth Rs 1,500 cr committed for special eco zone Hyderabad, Nov. 1: The countrys first aerospace SEZ is all set to take wings in Adhibatla on the outskirts of Hyderabad. About 20 small and medium enterprises (SMEs) and a few big players have committed an investment to the tune of Rs 1,500 crore. Continue reading