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MTAR Technologies, the Hyderabad-based giant, is all set to invest Rs 200 crore in India's first aerospace and precision engineering SEZ, to be situated near Hyderabad. The investment is aimed at setting up a manufacturing facility in the SEZ, for which an area of around 280 acres has already been allotted. The facility, in which TVS, Godrej and Tata have also expressed interest, is expected to be fully commissioned by 2011
Engaged in high precision machining, fabrication and design centre - with latest machines and testing facilities, MTAR Technologies is a 100-crore company. It will be investing half of the said amount i.e. Rs 100 crore initially. The rest of the amount will be invested through internal accruals and other promoters. The facility, where the Rs 200 crore invested will be made, would be manufacturing space and nuclear-related products.
MTAR Technologies received $65 million through Blackstone, a PE fund, and is expecting to generate Rs 500 crore revenues in the next three years, through various outsourced projects. The company has already made prototype fast breeder reactor (PFBR) grid plate, helping Indian nuclear program reach an important milestone. It also supplies major equipment, such as Vikas and cryogenic engines, to space launch vehicles and satellite components, such as modules, for ISRO.
