Business EconomyPosted at: Nov 4 2026 11:33AM


Astrobase to invest Rs 500 crore in Karnataka rocket plant, create 1,250 jobs

Bengaluru, Nov 4 (UNI) Bengaluru-based space technology company Astrobase plans to invest Rs 500 crore to establish a rocket manufacturing facility in Karnataka, with an annual capacity of up to 40 rocket engines and potential to generate over 1,250 jobs, Industries Minister MB Patil said.
The proposed facility will come up on 10 acres at the Adinarayana Hosahalli industrial area, Patil said.
The company, led by former Indian Space Research Organisation (ISRO) scientists, has developed an indigenous rocket engine named 'Everest', designed to power launch vehicles capable of carrying payloads ranging from eight tonnes to 26 tonnes into space, he said.
Describing the proposed investment as a significant development for Karnataka's aerospace manufacturing sector, Patil said the project would strengthen the state's position in the growing space technology industry.
However, the government statement did not specify the project implementation schedule or the expected date of commencement of production.
In another investment proposal, Netherlands-based Bayer plans to invest Rs 200 crore in Bengaluru to establish a global capability centre, which is expected to generate 220 jobs, the minister said.
Patil said he had met Bayer's leadership during his recent visit to the Netherlands as part of efforts to attract investments to Karnataka.
The two proposed projects together represent an investment of Rs 700 crore and are expected to create more than 1,470 jobs in aerospace manufacturing and corporate services.
UNI BDN
Tags: #Astrobase to invest Rs 500 crore in Karnataka rocket plant# create 1#250 jobs
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