Home / Business and Economy / Tamil Nadu Aerospace Hub Takes Flight: ₹1,600 Cr Investment
Tamil Nadu Aerospace Hub Takes Flight: ₹1,600 Cr Investment
19 Feb
Summary
- Four MoUs worth ₹1,600 crore signed for aerospace and defence sector.
- Investments will create approximately 1,900 new job opportunities.
- Companies will manufacture flight-critical components and ammunition.
Tamil Nadu is accelerating its aerospace and defence sector development through significant investments. The Tamil Nadu Industrial Development Corporation Ltd has finalized four Memorandums of Understanding (MoUs) with various companies, collectively amounting to ₹1,600 crore. These initiatives are projected to generate approximately 1,900 employment opportunities, boosting the state's industrial prowess.
PMI Engineering Exports will establish a precision aerospace manufacturing facility with a ₹500 crore investment, focusing on flight-critical components for civil aviation and defence. SIMVAYU is set to launch a high-technology aviation training and simulation center in Chennai, backed by a ₹600 crore investment, featuring advanced simulators.
Tychon Global Systems plans to set up an ammunition manufacturing facility in Thoothukudi, investing ₹500 crore. This facility will handle end-to-end production of ammunition. Inbound Aerospace, an IIT-Madras-incubated startup, will invest ₹100 crore in advanced manufacturing for reusable spacecraft and satellite solar panels.
