Hyderabad: Telangana is set to witness a major boost to its defence and aerospace sector soon, as the defence manufacturer VEM Technologies signed a deal with Telangana IT and Industries secretary to set up a Rs 1000 crore facility at Zaheerabad in the near future.
The defence facility is said to be set up at the Yelgoi village and will take up approximately 511 acres of land. It will also consist of an export zone which is touted to create close to 2000 jobs, said Raju. The chairman further stated that the integrated defence system facility will have full-fledged facilities for integration and manufacturing of aerostructures, missiles, naval system, UAS, radars, aero engines, hot & cold integration, and metrology, and small arms, among others. The construction of the facility is expected to commence in early 2022.
The government of Telangana has accorded the status of Megaproject to the initiative, as reported by The Times of India, it will also be eligible for numerous incentives said the Telangana Information Technology and Urban Development Minister KT Rama Rao during the launch of the initiative. The VEM technologies currently have an order book of Rs 800 crore and certain facilities in Telangana, it has close to 1350 employees as well.
VEM technologies hopes to achieve the status of “India’s Lok heed Martin” as it plans to build a fighter jet by 2029. It has also planned to set up 5000 engineering centres across Telangana, said Raju.
The Defence Research and Development Organisation chief G Satheesh Reddy, who witnessed the signing of the agreement said, “Hyderabad over the last couple of years as well as the next couple of years will be attracting orders worth Rs 1 lakh crore in multiple segments of defence”.