(MENAFN- KNN India) Karnataka, Feb 20 (KNN) Air India, in collaboration with Tata Advanced Systems Ltd (TASL), has signed a memorandum of understanding (MoU) with the Karnataka government, signalling a significant investment of Rs 2,300 crore into the state's aerospace and defence sector on Monday.
The strategic partnership aims to bolster Karnataka's aerospace ecosystem and envisages the creation of over 1,600 direct jobs along with 25,000 indirect employment opportunities.
The signing ceremony took place in the esteemed presence of Karnataka Chief Minister Siddaramaiah and State Industries & Infrastructure Development Minister MB Patil, highlighting the government's commitment to fostering economic growth through strategic alliances.
Siddaramaiah expressed his delight at the collaboration, emphasizing its pivotal role in propelling Karnataka's aerospace industry to new heights.
He underscored the potential of this investment to not only augment employment opportunities but also significantly contribute to the state's overall economic development.
As per the MoU, Air India is set to establish state-of-the-art maintenance, repair, and overhaul (MRO) facilities at Kempegowda International Airport in Bengaluru, operated by Bangalore International Airport Ltd.
These facilities will encompass airframe maintenance, including the development of wide-body and narrow-body hangars, catering to various checks, including heavy structural assessments.
This initiative is poised to generate over 1,200 highly skilled jobs, thereby bolstering the local workforce and enhancing the MRO ecosystem in India.
Additionally, TASL's investment endeavours will focus on implementing aircraft modification, conversion, and completion facilities for defence purposes.
Furthermore, plans are in place to establish indigenous gun manufacturing and R&D units in the aerospace and defence sector, further contributing to job creation in the state.
Nipun Aggarwal, Chief Commercial & Transformation Officer at Air India, emphasised the significance of this initiative in enhancing self-reliance in fleet maintenance and bolstering India's aviation infrastructure.
The partnership is poised to expand Air India's connectivity in Bengaluru and beyond, thus facilitating greater access to global destinations and stimulating traffic aggregation from Southern India.
Moreover, the MoU is expected to strengthen the supply chain for over 200 small and medium enterprises (SMEs) in the state, fostering innovation and economic growth across the region.
(KNN Bureau)
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