Bengaluru-based aerospace and defence company AxisCades Aerospace Infrastructure Private Limited is set to invest ₹6,000 crore in Karnataka, said MB Patil, the Minister of Large and Medium Industries of Karnataka.
According to Patil, AxisCades Aerospace is set to establish an integrated hub across 200 acres for manufacturing, testing, and maintenance in aerospace, defence, semiconductor, and Artificial Intelligence (AI) innovation sectors, while the company also plans to set up a domestic research and development centre under global partnerships.
Defence push
The aerospace company will invest the entirety of ₹6,000 crore in phases. He said, “The project is expected to generate 20,000 direct and 54,000 indirect jobs in the State, and the company intends to develop aerospace and defence infrastructure, including missile sub-systems, radar and sensor systems, and Maintenance, Repair and Overhaul (MRO) facilities for fighter aircraft.
He added that in the first phase, the company will invest ₹1,290 crore, followed by ₹2,898 crore in the second phase and finally, ₹1,512 crore in the third phase.
To implement the project, the company has requested land near Devanahalli. The company also intends to build a 1.8-km-long runway.
To that, Patil suggested that airports at Hassan, Vijayapura, and Shivamogga could be taken into consideration if required. The company representatives, however, said that the proposed facility should preferably be located close to the company’s existing Devanahalli unit. Thereupon, the minister directed the officials to identify suitable land where runway construction would also be feasible.
AxisCades is a publicly traded global company with over 3,000 professionals. It operates across more than 20 locations in North America, Europe, and the Asia-Pacific. Its major engineering hub and massive infrastructure investments are centred near Devanahalli in Bengaluru, India.