Defence Expo: Titan Aviation to invest Rs 38,000 cr in UP
According to sources many defence and aviation majors are expected to sign MoUs during Defence Expo with UP government in order to invest in Uttar Pradesh defence corridor
February 03, 2020
The upcoming Lucknow Defence Expo
is expected to bring in a host of investors for 'invest in Uttar Pradesh' and one of the major investors is expected to be the Titan Aviation and Aerospace India Limited (TAAIL). The Secunderabad-based aviation company is expected to sign a memorandum of understanding (MoU) with the UP government along with 16 other companies from the aviation sector in the presence of Uttar Pradesh chief minister Yogi Adityanath. The MoUs will be signed during Defence Expo for investment into one of UP CM’s favourite projects – the UP Defence Corridor
Rs 38,000 crore investment in the plan
According to a senior official working on the defence corridor project, the deal with TAAIL will be for the company’s maintenance, repair and overhaul (MRO) facility. The project is expected to bring in investment to the tune of a whopping Rs 38,000 crore in the state. Apart from this, Titan Aviation has also asked for 6,000 acres of land to set up the new facility.
Titan Aviation is a part of the Titan Group, which has defence majors such as DRDO, MIDHANI, DRDL, ISRO, NFC, BHEL, DMRL, HEMRL in its clientele since 2001, has partners in Russian and Ukraine such as Antonov, Motor Sich, MI, Russian Helicopters, Yuzhmash, AVIA and others.
Plan of Aviation Special Economic Zone
Titan Aviation in collaboration with several Ukrainian companies is promoting Aviation Special Economic Zone (SEZ) in an area of 5,500 acres for the first time in Donakonda in Andhra Pradesh with aviation and aerospace being a Concept and Business Plan.
Apart from Titan Aviation, there are other companies such as Triveni Engineering and Industries Ltd, National Small Industries Corporation Ltd, Viitor Cloud Technologies, Tata Technologies Ltd and MSK Business Solutions Private Limited. At the other hand Hindustan Aeronautics Limited and Bharat Dynamics Limited, a manufacturer of ammunition and missiles system will also be signing MoUs IIT-Kanpur and Uttar Pradesh Expressway Industrial Development Authority.
Tapping Invest in UP
According to sources, Ancor Research Labs LLP, a company involved in designing of electronics and software is planning to set up a facility for research and development in aerospace and defence and has asked for 20 acres of land at Aligarh node for the same.
Another company which has asked for land at Kanpur node is Sri Hans Energy Systems Pvt. The Kanpur-based 24-year-old company is planning to set up a plant for manufacturing physical security-related smart equipment.