K'taka targets Aero India to lure $100 bn

Bangalore, Feb 8: Karnataka has planned to target the largest air show of India to attract the investors to invest USD 100 billion in the aviation sectror over the next decade. The Aero India 2011 starts in Bangalore from Feb 9-14. In this five day event over 330 global companies and 2.75 lakh visitors are expected.

Chief Minister B S Yeddyurappa and state's Chief Secretary S V Ranganath attended a meeting with delegates of US India Business Council (USIBC) held on Tuesday. The Aero India show said that business environment was conducive in Bangalore and the government plans to attract over USD 100 billion in next 10 years.

The state government has set up an aerospace park near Bengaluru International Airport, Yeddyurappa told the delegation.

"The city is already recognised as aerospace hub of the country and has more than 65 percent of the country's investment in the sector here (Bangalore). Besides big presence of public sector enterprises, many international private players have invested in aerospace sector in the state," Ranganath said.

He said, “a study conducted by Federation of Indian Chamber of Commerce and Industries has brought out the fact that 90 percent of the investors have expressed that they would like to reinvest in the state."

Leading the 10th Executive Aerospace and Defence Mission to Aero India 2011, Admiral US (Retd) Walter G Doran said, “aerospace companies in US were looking forward to invest in the state."

Air Marshal TJ Master, member of joint aerospace task force said, “besides technology innovation center, an aerospace university was in the offing to cater the human resources for the aviation sector."

State's Principal Secretary to Industries Department VP Baligar said South Korean Steel giant Posco which plans to set up a mega steel plant has zeroed in on Gadag for its plant.

“The unit would come up on 3,000 acres in Haligudi in Mundargi taluk, Gadag district. Coco Cola would set up its plant on 250 acre in backward Yadgir district," he said.

Baligar said that besides a 1000 MW power plant in a 50 acres of land a pharmaceutical park would also come up in the newly carved district.

PTI