Astrobase to invest ₹500 crore in Karnataka rocket engine facility
The space-tech company plans to create over 1,250 jobs at its proposed Adinarayana Hosahalli Industrial Area plant.
Space-tech firm Astrobase plans to invest ₹500 crore to set up a rocket engine manufacturing plant at the Adinarayana Hosahalli Industrial Area in Karnataka, according to reports by Urban Acres and BusinessLine. The facility is expected to produce up to 40 rocket engines every year.
Karnataka Industries Minister MB Patil said the 10-acre project would generate more than 1,250 jobs. The company is working on indigenous rocket propulsion technologies, reusable launch systems, and medium-lift launch vehicles.
Astrobase intends to increase its yearly payload delivery to 100 tonnes by 2032 and reach 1,000 tonnes by 2040. Patil noted that the company's leadership includes professionals with experience in India's space programme, such as former scientists from the Indian Space Research Organisation (ISRO).
In a separate development, Netherlands-based company Bayer plans to invest ₹200 crore to build a Global Capability Centre (GCC) in Bengaluru. This centre is projected to create 220 jobs.
Patil stated that Bayer wants to conduct its groundbreaking ceremony before the Global Investors Meet in April 2027. The company has operated in India for 125 years and currently employs approximately 11,000 people.
The investment discussions included Astrobase Co-Founder Neeraj Khandelwal, Chief Financial Officer Nishant Jain, Head of Business and Strategy Puneet Balasubramanian, and Bayer's Himanshu Patel.