Aerospace and defence solutions company Tata Advanced Systems (TASL), on Monday, said it will invest in the state of Karnataka, India, with an aim to develop aviation infrastructure by which it will create over 450 highly skilled employment opportunities in the state.
TASL, on that terms, signed a memorandum of understanding (MoU) with the Government of Karnataka for investments in the aerospace and defence sector. The MoU was signed in the presence of Siddaramaiah, Chief Minister of Karnataka, and Sukaran Singh, Chief Executive Officer of TASL, the company said.
The investments of TASL sum to ₹1,030 Crore ($124.2 million) near the Kempegowda International Airport (KIA), Bengaluru and Kolar areas, reported by the Times Of India.
Additionally, Air India, a subsidiary of Tata Group, is set to make an investment of ₹1,300 Crore, creating about 1,200 job positions, to establish a facility at Bengaluru airport, based on the report.
The company said TASL’s investment will be directed towards implementing Aircraft Modification, Conversion, Completion and Maintenance, Repair, and Overhaul (MRO) facility for defence purposes.
Also, it will invest in setting up indigenous gun manufacturing including a barrel manufacturing facility and implementing R&D (research and development) in the aerospace and defence sector, added the firm.
In late January, Tata Group-owned mining firm Tata Steel said it would lay off about 2,500 job positions across the UK region in the following 18 months.
TASL, founded in 2007, is headquartered in Hyderabad, Telangana.
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