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Parakram to promote defence, aerospace industrial corridor

Posted on Feb 09, 11:01PM | UNI

Bangalore, Feb 9 : Defence infrastructure provider Parakram is developing a world-class industrial corridor as a private sector enterprise housing capability to design, develop and support Defence, Aerospace and Home Land Security systems and solutions across the southern states of the country.

This was announced at a press conference here today by the Directors S Krishna Kumar, Prem Chand and Asif Iqbal.

The corridor was aimed to propel the region into an innovation-led economy, by hosting the most advanced and fully integrated centers for research and development, production of Defence and Aerospace Systems, facilitate innovation and commercialization by providing advanced infrastructure, equipment and facilities.

It would foster and facilitate smart partnerships between the government and private sectors, prepare industry to participate in the global contract bidding, foster collaborations to

manufacture products for the local, regional and global market.

The first phase of this industrial corridor would span across the states of Tamil Naidu, Andhra, Karnataka, Kerala and Pondicherry.

The investment for the first phase is earmarked at Rs 250 crore and will go up as the project progresses.