Bengaluru, Nov 3 Bengaluru-based space technology company Astrobase and Netherlands-based agricultural products major Bayer will invest Rs 500 crore and Rs 200 crore, respectively, in Karnataka, Industries Minister M B Patil said on Tuesday.
The proposed investments are expected to generate more than 1,470 jobs across the state, with Astrobase planning to set up a rocket manufacturing facility and Bayer establishing a Global Capability Centre (GCC) in Bengaluru.
Patil made the announcement after holding discussions with senior representatives of the two companies in Bengaluru.
As part of its proposed investment, Astrobase will establish a manufacturing facility on 10 acres in the Adinarayana Hosahalli Industrial Area, with an annual production capacity of 40 rocket engines, the minister said in a release.
The company is engaged in developing medium-lift launch vehicles, reusable launch systems and indigenous rocket propulsion technologies. It is led by professionals with extensive experience in India’s space programme, including former ISRO scientists.
Astrobase has developed an indigenous rocket engine named ‘Everest’, designed for launch vehicles capable of carrying payloads weighing between eight and 26 tonnes.
The company aims to scale up its annual payload delivery capacity to 100 tonnes by 2032 and 1,000 tonnes by 2040.
“Given the growing global demand for launch vehicles, the proposed investment by Astrobase is a welcome development. The project is expected to generate more than 1,250 jobs,” Patil said.
Bayer will establish a Global Capability Centre in Bengaluru with an investment of Rs 200 crore. The proposed facility is expected to generate around 220 jobs, he said.
Patil recalled meeting the company’s leadership in Amsterdam during his recent visit to the Netherlands to attract investments to Karnataka.
Bayer, which manufactures agricultural products such as fertilisers, insecticides and fungicides, is keen to hold the groundbreaking ceremony before the Global Investors Meet scheduled for April 2027 and commence operations at the earliest, he said.
The company already operates a service and innovation hub in Bengaluru and a crop research centre in Chamarajanagar.
Bayer has been operating in India for 125 years and employs around 11,000 people. It also has seven manufacturing plants and three Global Engineering Centres in the country, the minister said.
(PTI News)
