Tata Power SED to invest Rs 500 crore in Karnataka
Tata Power´s defence engineering unit, Tata Power Strategic Engineering Division (SED), is investing around Rs 500 crore in Vemagal, Kolar district, Karnataka. It is planning to set up a manufacturing plant dedicated to the defence sector. The new plant, which is expected to come up in 50 acres of land, will be the company´s largest manufacturing unit set-up in the country.
According to a senior company official, the plant is expected to be operational by the first quarter of the 2017 financial year. Presently, the company has a defence production and maintenance facility located in Electronics City near Bengaluru in a facility of 11 acres of land. Apart from the manufacturing facility, it has a 500-seater Defence Research and Development Centre in Mumbai and Bengaluru.