You are here: Home » News-IANS » Defence-Security
Business Standard

Tamil Nadu Defence Corridor may see projects in aerospace, missile parts

IANS  |  New Delhi 

Defence will get a shot in the arm with a series of projects set to be announced for the Defence Corridor, the second such hub in the country, on January 20.

The projects may include aerospace, hand-held weapons, parts of missiles and manufacture of composites.

Kumar said on Monday that the corridor will be developed on the existing defence ecosystem in the state and create synergy with its base in terms of automobiles and components, information technology, textiles besides a large pool of engineering talent.

He said the Defence corridor is expected to attract more initial investment than Rs 3,700 crore announced when the Defence Industrial Corridor was unveiled last year.

"will be very good for components," he said, adding it has a proximity with Bengaluru with a reliable aero-industry base.

The function to be held at will be attended by Defence and will have Chennai, Hosur, Salem, Madurai, and as major nodes.

Two defence corridors were announced in Tamil Nadu and in the Union Budget last year. The Defence Industrial Corridor at Aligarh last year saw announcement of investment of over Rs 3,700 crore.

The defence innovation hub will be based at Coimbatore, which has a large number of micro, medium and small enterprises.

Kumar said efforts are being made to attract these units to the defence sector and boost indigenisation. The innovation hub will have a common facility centre to be created through a special purpose vehicle.

The government has already approved (DIF) to foster innovation and in defence sector by engaging research institutions, academia, industry including MSMEs, start-ups and also individual innovators.

An expert familiar with the project said that more than a dozen projects are expected to be announced for the Tamil Nadu Defence Corridor along with investment both by the private industry and public sector undertakings.

--IANS

ps/prs

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 14 2019. 22:20 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU