Air India and Tata Advanced Systems, the subsidiaries of Tata Group, signed MoUs (Memorandum of Understanding) with the Karnataka Government, on Monday, February 19, with investment proposals of an aggregate INR 2,300 Crore for a slew of projects. These are expected to generate 1650 direct and indirect job opportunities.
Air India has proposed to invest an estimated INR 1,300 Crore towards developing a maintenance, repair, and overhaul (MRO) facility in Bangalore. This facility is poised to make Bangalore the MRO hub in South India and is anticipated to generate 1200 new job opportunities.
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Tata Advanced Systems will invest a combined estimated INR 1030 Crore over three projects in the state. These include a passenger-to-freighter aircraft conversion facility worth INR 420 Crore, a gun manufacturing facility worth INR 310 Crore (more than half of its 13,000 parts to be secured from within Karnataka), and an aerospace and defence research and development facility worth INR 300 Crore. These projects will create nearly 450 employment opportunities.
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