Aerospace Engineers Private Limited will invest Rs 150 crore to set up a new factory in Hosur industrial town.
The new investment proposal in Hosur comes in the wake of the company winning a long-term contract from Boeing, the world’s largest commercial and defence aircraft manufacturer.
Aerospace Engineers Private Limited, which is an MSME unit based in Salem, handed over the contract order to Tamil Nadu Chief Minister M K Stalin at the Secretariat on Monday.
The company will produce and supply critical aviation components and parts to Boeing from its proposed factory in Hosur.
This is the first time that a Tamil Nadu-based company entering into a direct contract with Boeing.
According to the government officials, the contract won by the Salem-based company is a boost to the state government’s aerospace policy and Mr Stalin’s dream of ‘Make in Tamil Nadu’ products making it to every part of the globe.
With this new investment in Hosur, the aerospace firm is expected to create job for 1,000 persons.
It may be noted that the state government is developing an aerospace park in Sriperumbudur near Chennai for making the state a major hub for manufacturing components for the aerospace industry.
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