Hyderabad, Nov. 1:

The countrys first Aerospace SEZ is all set to take off with a committed investment of Rs 1,500 crore.

With land allocated to 24 companies, the facility, situated in Adhibatla, about 15 km from the Rajiv Gandhi International Airport, on the outskirts of Hyderabad, will see action beginning on November 4.

At least half a dozen companies will begin work on that day, when the Andhra Pradesh Chief Minister, Kiran Kumar Reddy, is expected to kickstart activity at a foundation laying function.

Creating employment

The ambitious Aerospace & Precision Engineering SEZ will provide the infrastructure for these units to manufacture a range of products needed for the strategic sectors of aerospace, nuclear, space and defence.

The venture can provide direct employment of 10,000 and indirectly to another 18,000 in the next three years, as these manufacturing units, turn fully operational. The projected annual turnover is Rs 2,500 crore and exports to the tune of Rs 400 crore.

SMEs setting up shop

Among the two dozen SMEs that have taken land are Motion Dynamics, Gagan Aerospace, Aeroc Space Tech, Hemmair, Apollo Aerospace, DSR Tech, Lokesh Machine Tools, Gowra, Ratna Tools, Castall Tech, Compu Power, Rolon Seal and Revathy Industries, said M.M. Sreeram, Executive Director of Samuha Engineering Industries.

Samuha is a consortium of aerospace Industries, which will anchor the development of the aerospace park. MTAR, SEC Industries, Ananth Technologies, Zetatek, Scarlet and SKM Technologies are the main promoters.

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Work set to begin at Hyderabad aerospace SEZ