Bengaluru: Bengaluru-based space technology company Astrobase and agricultural products maker Bayer will invest ₹500 crore and ₹200 crore respectively in Karnataka, Large and Medium Industries Minister M. B. Patil announced on Tuesday after discussions with senior representatives of both companies in Bengaluru.
Astrobase: rocket engine facility
- The company, which is developing medium-lift launch vehicles, reusable launch systems and indigenous rocket propulsion technologies, will set up a manufacturing facility on 10 acres in the Adinarayana Hosahalli Industrial Area.
- The facility will have an annual capacity of 40 rocket engines.
- Astrobase has developed an indigenous engine named ‘Everest’ for launch vehicles that can carry payloads of 8 to 26 tonnes, and aims to scale annual payload delivery to 100 tonnes by 2032 and 1,000 tonnes by 2040.
- The project is expected to create more than 1,250 jobs, Patil said.
Patil said the company is led by professionals with extensive experience in India’s space programme, including former ISRO scientists.
Bayer: Global Capability Centre
- Bayer has decided to set up a Global Capability Centre (GCC) in Bengaluru with an investment of ₹200 crore, which is expected to create 220 jobs.
- Patil recalled meeting Bayer’s leadership in Amsterdam during his recent visit to the Netherlands to attract investments.
- The company wants to hold the groundbreaking before the Global Investors Meet scheduled for April next year and begin operations at the earliest.
- Bayer already has a service and innovation hub in Bengaluru and a crop research centre in Chamarajanagar. It has operated in India for 125 years, employs about 11,000 people and has seven manufacturing plants and three Global Engineering Centres in the country, Patil said.
Who took part
Astrobase co-founder Neeraj Khandelwal, Chief Financial Officer Nishant Jain and Head of Business and Strategy Capt. Puneet Balasubramanian, and Dr. Himanshu Patel of Bayer took part in the discussions. KIADB Chief Executive Officer Govind Reddy, the Industries Minister’s Technical Adviser Aravind Galagali and Udyog Mitra Managing Director Doddabasavaraju were among the officials present.
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