Sun Forest City Ventures Ltd, a joint venture between Gurgaon-based Sun Group and UK-based Forest City International has proposed to set up an aerospace infrastructure park and complete eco-system for aerospace industries near Bangalore international airport. The company has proposed to invest close to Rs 10,000 crore in the first phase in an area spread over 1,000 acres.
“The company intends to develop one of the biggest aerospace hubs in Asia and sought 1,000 acres land from the state government. The government has identified the suitable land beyond int-ernational airport and the preliminary notification has been issued for land acquisition. The company will bring some the big names in the aeros-pace industry from Europe and USA to set up shop here,” M N Vidyashankar, principal secretary, department of commerce and industries said.
The aerospace hub will be developed in three phases and in the second phase, the company would invest another Rs 7,000 crore, he said.
