Karnataka’s reputation of being the aviation hub of India would be enhanced further in the next 10 years as close to a $110 billion is expected to be invested in the aerospace sector.
Karnataka’s reputation of being the aviation hub of India would be enhanced further in the next 10 years as close to a $110 billion is expected to be invested in the aerospace sector.
Speaking at the regional centenary celebration of Indian Civil Aviation on Monday, chief secretary SV Ranganath said that according to an Investment Commission study, the state has the potential to attract an investment of $110 billion between 2010 and 2020.
Of the $110 billion, investment of up to $80 billion would come from development of aircraft and the rest $20 billion would come from development of infrastructure in the aviation sector.
This apart, there was a possibility of investment arising from the offset policy, he said.
A task force, headed by former Hindustan Aeronautics Limited (HAL) managing director AK Saxena, in its report had stated that a technology innovation centre could be set up with the help of HAL, Indian Space Research Organisation, Bharat Electronics Limited, National Aerospace Laboratories, EADS and Honeywell.
Likewise, a memorandum of understanding has been signed with the Wolverhamption City Council for promotion of aerospace activities.
Ranganath said that Karnataka, which would soon have an aviation policy, had earmarked 1,000 acres for an Aerospace Industrial Park, of which, 200 acres would be allocated to an aerospace SEZ for which 41 industries have already signed up.
On the development of airports in Tier-II cities, he said Hubli airport would be developed on international standards. Civil enclaves would be built at Bidar and Karwar airports, which are currently operated by the defence ministry.
On the occasion, GV Krishna Reddy, chairman GVK Group, which operates the Bengaluru International Airport, said work on Terminal-1 was progressing well, following which a second terminal and the second and third runways would be built to enable it to handle passenger movements up to 50-60 million a year.
He said GVK would acquire an additional 14% stake from Siemens to become the largest shareholder of the airport.
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