Economic Times May7, 2009.
GMR Hyderabad International Airport Ltd (GHIAL) is planning to set up
an aerospace park in Hyderabad, which would be spread over 250 acres,
even though the aviation sector is going through turbulent times. The
park, to be completed in 5-6 years, is coming up in the vicinity of
the GHIAL’s new airport in Shamsabad, Hyderabad, where the company
already has more than 5,400 acres and is expected to employ
8,000-10,000 people. “The park would be set up in the next 5-6 years.
It will be spread over 250 acres,” a senior official of the company
told PTI. He, however, declined to share the investment plans of the
project. The land for the project has been designated as Special
Economic Zone and will enjoy tax and other financial incentives.
The park will offer services like aircraft maintenance and repair,
manufacturing of components and sub-systems, and research and
development for civil as well as military aircraft. It will also
provide training for aviation industry personnel. Besides, it will
offer warehousing services and support ancillary industries like tyre
manufacturers. The park is expected to generate employment for
8,000-10,000 people. In February, as a first step, GHIAL had announced
the setting up of a Rs 400 crore maintenance, repair overhaul (MRO)
facility in association with Malaysia Airlines at the aerospace park.
GHIAL is a joint venture firm in which GMR Infrastructure holds 63 per
cent, the Airports Authority of India and Government of Andhra Pradesh
hold 13 per cent each and Malaysia Airports Holding Berhard has the
remaining 11 per cent.
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