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The aerospace park is expected it attract an investment of Rs.1,000 crore in the next five years. The Tamil Nadu government is confident that at least 50 companies engaged in aerospace and components industry will set up shop in its upcoming aerospace park at Sriperumbudur near Chennai.
More than 15 companies have been given in-principle land allocation approval in Phase 1 of the project, which will come up on 250 acres, said B Elangovan, Managing Director, Tidel Park, while addressing a CII conference on aerospace and defence industry.
The State government's proposed Advanced Computing and Design Engineering Centre, which is coming up in the park, is expected to act as a catalyst to promote aerospace industries.
The Centre will have super computing facilities, 3-D printing, virtual studios, prototype development, centre of excellence, skill development facility, avionics manufacturing complex and others for supporting aerospace segment.
Also, a multi-floor aerospace manufacturing complex will soon come up in the aerospace park.
Elangovan said an aircraft maintenance, repair and overhaul complex near the Chennai airport is expected to come up.