TN Defence Industrial Corridor connecting 5 cities inaugurated

0
404
Advertisement

The corridor is expected to attract investments worth Rs 3,123 crore.

Image courtesy : The Hindu

The second Defence Industrial Corridor connecting Chennai, Hosur, Salem, Coimbatore and Tiruchirappalli was inaugurated on Sunday by Defence Minister Nirmala Sitharaman.

As per the Ministry of Defence, the corridor is expected to attract investments worth Rs 3,123 crore, reported Hindustan Times.

The corridors overlap with existing defence public sector companies, and aim to bolster defence manufacturing in India.

Advertisement

The first Defence Industrial Corridor was thrown open in Uttar Pradesh last year. Typically comprising small, medium and big industries, the specialised corridors are expected to provide a base to boost manufacturing of indigenous defence equipment in India.

International defence manufacturing giants like Lockheed Martin and others announced their plans to set up units in the corridor. However, a majority of the commitments to invest have come from defence public sector companies like the Bharat Electronics and Bharat Earth Movers Limited.

Advertisement

SHARE YOUR THOUGHTS & COMMENTS

Please enter your comment!
Please enter your name here

Are you human? *