Karnataka is set to receive fresh investments across the space technology and agrochemical sectors, with Astrobase and Bayer announcing plans to invest a combined Rs 700 crore. The projects are expected to create nearly 1,500 jobs, according to Industries Minister MB Patil.
Astrobase to invest Rs 500 crore in rocket manufacturing
Bengaluru-based space technology startup Astrobase will invest Rs 500 crore to establish a rocket manufacturing facility at the Adinarayana Hosahalli Industrial Area in Bengaluru Rural district.
Spread across 10 acres, the facility will have the capacity to manufacture 40 rocket engines annually and is expected to generate more than 1,250 jobs.
Patil said the company is developing medium-lift launch vehicles, reusable launch systems and indigenous rocket propulsion technologies. Its team includes professionals with experience in India’s space programme, including former ISRO scientists.
Astrobase has developed an indigenous rocket engine called Everest for launch vehicles capable of carrying payloads ranging from 8 tonnes to 26 tonnes. The company aims to achieve an annual payload delivery capacity of 100 tonnes by 2032 and 1,000 tonnes by 2040. The investment comes amid growing global demand for launch services.
Bayer to establish Bengaluru GCC
German agrochemical company Bayer will invest Rs 200 crore to set up a Global Capability Centre (GCC) in Bengaluru, creating approximately 220 jobs.
Patil said he discussed the proposed investment with Bayer’s leadership in Amsterdam during his recent visit to the Netherlands. The company wants to hold the groundbreaking ceremony before Karnataka’s Global Investors Meet in April next year and begin operations at the earliest.
Bayer already operates a service and innovation hub in Bengaluru and a crop research centre in Chamarajanagar. It has been present in India for 125 years, employs around 11,000 people and operates 7 manufacturing plants and 3 Global Engineering Centres across the country.
Astrobase Co-founder Neeraj Khandelwal, CFO Nishant Jain, Head of Business and Strategy Capt Puneet Balasubramanian, and Bayer’s Dr Himanshu Patel attended the meeting. Senior state officials, including KIADB CEO Govind Reddy, were also present.
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