Tuticorin to get three defence, space tech investments worth more than 5,600cr
Sources in the state govt said the biggest project involves Sakthi Group, which will set up a manufacturing-cum-proof testing facility for ammunition and propellants in Tuticorin with a committed investment of 5,000 crore. This project will employ around 2,000 people.
"Establishment of this facility will augment the defence sector production in Tuticorin district," said a govt source. The second project is from Ethereal Exploration Guild, a space tech startup which will be setting up a manufacturing and testing facility for medium lift rocket engine in Tuticorin.
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The project will involve an investment of 519 crore and an employment commitment of around 582 jobs.
The third project is also from a startup. Agnikul Cosmos will invest 121 crore with a projection of creating 525 jobs. The company will establsish a facility for manufacturing and testing of rocket launch vehicles for satellites in Tuticorin. Sources said these three big investments will help establish Tuticorin's credentials as TN's space tech cluster.
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In its recently released space tech policy, the state govt had set a target of attracting 10,000 crore investment in the space sector in the next five years and create direct and indirect employment for nearly 10,000 people.
The state is also working towards creating a skilled talent pool for the space sector in the next five years.
Given that the Indian Space Research Organization (ISRO) is setting up India's second spaceport in Kulasekarapattinam, Tuticorin is ideally placed to become a defence and space tech hub.
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