AP Looks At Funding Of RS 20K Cr In Defence and Aerospace Parks

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The decision pending the grant of special status to the newly formed state of Andhra Pradesh has not halted the state’s other major plans on the run. From establishing base for foreign players like Xiaomi to evincing interests global companies like Essel Infra and Srei Infra, investmentsarrow-10x10 AP Looks At Funding Of RS 20K Cr In Defence and Aerospace Parks are expected to flow in. If the plans of the latter companies materialize, a funding of nearly 20,000 Crore Rupees is anticipated to flow in the coming few years.

While Essel and Srei are already underway with planning, French giant Airbus is yet to a make a formal announcement of setting up the large aerospace and defence manufacturing cluster near Ananthapur. The government of Andhra Pradesh had begun marking territory in favor of nodal agency APIIC for the same.

What makes the state more viable is also its proximity to the hub of Indian Aerospace Industry, Bengaluru. Hemanth Kanoria, the Chairman of Srei Infra Group confirmed that the teams of Srei had already visited Andhra and the planning is at its preliminary stage, evaluating cost benefit before taking the final call.

The state of Andhra Pradesh offers many advantages to the industrial expansion at a global scale, such as infrastructure, logistics, industrial corridors, land banks and uninterrupted power supply. The secretary of AP Industries, Shansher Singh Rawat confirmed that the state government has identified defence and aerospace manufacturing as one of the key areas for the future development.



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