Feb. 14: Tata Advanced Systems (TAS) would set up its three new aerospace manufacturing facilities in Hyderabad. While one facility would be a Tata enterprise, the other two in joint venture with US aerospace majors.
“The three projects would bring in an investment of Rs 550 crore to Hyderabad. These companies would also create jobs for 3,000 directly and 6,000 indirectly,” said the Chief Minister, Mr N. Kiran Kumar Reddy, at a ground breaking ceremony for the three companies on Monday.
The companies which would be set up by the Tata Group in Hyderabad are Tata Lockheed Martin Aerostructure in joint venture with US aerospace major Lockheed Martin, Tara Aerospace Systems in joint venture with Sikorsky Systems. However, the third company Nova Integrated Systems would be fully owned by the Tata Group.
Speaking on the occasion, TAS, Mr Ramadorai said these projects would place Hyderabad on the global aerospace map and hoped that Hyderabad will develop into a global aerospace and defence hub.
In November, the Tata Group chairman, Mr Ratan Tata, had promised to make Hyderabad the hub of his group’s aerospace and defence businesses. The group has already invested around Rs 1,000 crore in TAS facility at Adibatla SEZ on the outskirts of Hyderabad.
The firm has already exported its first helicopter cabin to Sikorsky’s assembly unit in the US on November 23. The Tata Group is one of the several business houses, which has lined up investments to tap the opportunities in the Indian defence sector that was delicenced in 2008.
According a KPMG study, India’s defence spending on defence acquisitions would touch $112 billion by 2016.