Dynamatic Technologies has signed a Memorandum of Understanding with the Government of Karnataka for the establishment of a state-of-the-art Aerospace Manufacturing Facility at the Aerospace Park to be set up by the Karnataka Industrial Area Development Board (KIADB) near the International Airport in Bangalore. The MoU which was signed on Thursday, 3rd June 2010, at the Karnataka Government’s Global Investors Meet 2010, was one of the two Memorandums signed in the Aerospace segment by the Government of Karnataka at the event.
According to the MoU, Dynamatic Technologies will establish the Aerospace Facility for which the investment will be spread over a period of six years, while the Government, on its part, will endeavour to obtain fast-track clearances and approvals as well as provide the infrastructure such as land, water, power, necessary for the commencement of commercial production.