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Karnataka eyes USD 100 bn investment in aerospace sector


BANGALORE (PTI): Seeking to take advantage of Aero India event, Karnataka has set a target of attracting USD 100 billion investments in the aviation sector in the coming 10 years.

Chief Minister B S Yeddyurappa and state's Chief Secretary S V Ranganath during a meeting with delegates of US India Business Council (USIBC) held here on the eve of Aero India show said business environment was conducive in Bangalore and the government plans to attract over USD 100 billion in next 10 years.

The state government has set up an aerospace park near Bengaluru International Airport, Yeddyurappa told the delegation.

"The city is already recognised as aerospace hub of the country and has more than 65 per cent of the country's investment in the sector here. Besides big presence of public sector enterprises, many international private players have invested in aerospace sector in the state," Ranganath said.

He said a study conducted by Federation of Indian Chamber of Commerce and Industries has brought out the fact that 90 per cent of the investors have expressed that they would like to reinvest in the state.

Leading the 10th Executive Aerospace and Defence Mission to Aero India 2011, Admiral US (Retd) Walter G Doran said aerospace companies in US were looking forward to invest in the state.

Air Marshal T J Master, member of joint aerospace task force, said besides technology innovation centre, an aerospace university was in the offing to cater the human resources for the aviation sector.

State's Principal Secretary to Industries Department V P Baligar said South Korean Steel giant Posco which plans to set up a mega steel plant has zeroed in on Gadag for its plant.

The unit would come up on 3,000 acres in Haligudi in Mundargi taluk, Gadag district.

Coco Cola would set up its plant on 250 acre in backward Yadgir district, he said.

Baligar said besides a 1000 MW power plant in 50 acres of land a pharmaceutical park would also come up in the newly carved district.

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