The Tamil Nadu Chief Minister, Edapaddi K Palanswami, has laid the foundation stone for an aerospace park at Kanchipuram district to be set up by the State Government in 245 acres and at an estimated cost of Rs. 198 crore.
When fully ready, the park will attract a total investment of nearly Rs. 1,000 crore and create job opportunities for nearly 30,000.
The aerospace park at Vallam-Vadakkal Sipcot Industrial Park premises in Sriperumbudur will be jointly implemented by State Industries Promotion Corporation Ltd and Tamil Nadu Industrial Development Corporation.
Palaniswami handed over the land allotment order to nine companies, including Tidel Park, Minerva Aviation, Bala Works, Unicorn Pvt Ltd and Wintech Precision Engineering. Nearly 50 companies are expected to have operations at the park. .
A computing and designing centre will be built in 10 lakh sq ft at a cost of Rs. 350 crore with avionics manufacturing facility, and skill development components designing unit. In the first phase, Rs. 180 crore will be invested to set up the centre in 5 lakh sq ft.