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| GMR arm to set up 250-acre aerospace park in Hyd |
| Press Trust of India / New Delhi May 07, 2009, 15:06 IST |
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GMR Hyderabad International Airport Ltd (GHIAL) is planning to set up an aerospace park in Hyderabad, which would be spread over 250 acres, even though the aviation sector is going through turbulent times.
The park, to be completed in 5-6 years, is coming up in the vicinity of the GHIAL's new airport in Shamsabad, Hyderabad, where the company already has more than 5,400 acres and is expected to employ 8,000-10,000 people.
"The park would be set up in the next 5-6 years. It will be spread over 250 acres," a senior official of the company told PTI. He, however, declined to share the investment plans of the project.
The land for the project has been designated as Special Economic Zone and will enjoy tax and other financial incentives.
The park will offer services like aircraft maintenance and repair, manufacturing of components and sub-systems, and research and development for civil as well as military aircraft. It will also provide training for aviation industry personnel. Besides, it will offer warehousing services and support ancillary industries like tyre manufacturers. The park is expected to generate employment for 8,000-10,000 people.
In February, as a first step, GHIAL had announced the setting up of a Rs 400 crore maintenance, repair overhaul (MRO) facility in association with Malaysia Airlines at the aerospace park. GHIAL is a joint venture firm in which GMR Infrastructure holds 63 per cent, the Airports Authority of India and Government of Andhra Pradesh hold 13 per cent each and Malaysia Airports Holding Berhard has the remaining 11 per cent.
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