'Aero Space Park' to be set up in Hyderabad: ASI

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Hyderabad, Jun 18 (UNI) The Aeronautical Society of India (ASI) chairman V K Saraswat today announced an 'Aero Space Park' would be set up here with an investment of Rs 30,000 crore in the next three years.

Addressing the press here, Mr Saraswat said the park would be set up with the public and private partnership (PPP) in which about 50 aerospace manufacturing industries would participate as share holders. The ASI and industrialists had taken up the issue with the government, he added.

Stating the government was also keen to set up the park to boost the aviation industry and allied sectors, he said the proposed park would be set up in 500 acres of land to be acquired from the government at a reasonable rate.

Saying that the ASI would move as a catalyst in setting up the park, Mr Saraswat said it was holding talks with the industrialists to have a stake in the park and start the works at the earliest.


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