Bengaluru-based aerospace and defence company AxisCades Aerospace will invest Rs 6,000 crore in Karnataka, industries minister MB Patil said.
The subsidiary of multinational Axiscades Technologies plans to build an integrated hub spread across 200 acres for manufacturing, testing, and maintenance in aerospace, defence, semiconductor, and artificial intelligence sectors, the industries department said in a statement.
"The company also plans to set up a domestic research and development centre under global partnerships," Patil said.
The project is expected to generate 20,000 direct and 54,000 indirect jobs in the state, the minister added.
Founded in January 2001, AxisCades also intends to develop aerospace and defence infrastructure, including missile sub-systems, radar and sensor systems, and maintenance, repair and overhaul (MRO) facilities for fighter aircraft.
The investment will be rolled out in three phases — Rs 1,290 crore in the first, Rs 2,898 crore in the second, and Rs 1,512 crore in the third, said the statement.
To implement the project, the company has sought land near Devanahalli and has also expressed intent to build a 1.8-km runway. In response, the minister suggested airports at Hassan, Vijayapura, and Shivamogga as possible alternatives, the statement said.
Company representatives, however, said the proposed facility should preferably be located close to their existing Devanahalli unit. The minister subsequently directed officials to identify suitable land where runway construction would also be feasible, it added.
The meeting was attended by principal secretary of the industries department N Selvakumar, industries commissioner Khushboo Goyal, and AxisCades managing director Sharadhi Chandra Babu, among other senior officials.
The subsidiary of multinational Axiscades Technologies plans to build an integrated hub spread across 200 acres for manufacturing, testing, and maintenance in aerospace, defence, semiconductor, and artificial intelligence sectors, the industries department said in a statement.
"The company also plans to set up a domestic research and development centre under global partnerships," Patil said.
The project is expected to generate 20,000 direct and 54,000 indirect jobs in the state, the minister added.
Founded in January 2001, AxisCades also intends to develop aerospace and defence infrastructure, including missile sub-systems, radar and sensor systems, and maintenance, repair and overhaul (MRO) facilities for fighter aircraft.
The investment will be rolled out in three phases — Rs 1,290 crore in the first, Rs 2,898 crore in the second, and Rs 1,512 crore in the third, said the statement.
To implement the project, the company has sought land near Devanahalli and has also expressed intent to build a 1.8-km runway. In response, the minister suggested airports at Hassan, Vijayapura, and Shivamogga as possible alternatives, the statement said.
Company representatives, however, said the proposed facility should preferably be located close to their existing Devanahalli unit. The minister subsequently directed officials to identify suitable land where runway construction would also be feasible, it added.
The meeting was attended by principal secretary of the industries department N Selvakumar, industries commissioner Khushboo Goyal, and AxisCades managing director Sharadhi Chandra Babu, among other senior officials.
