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Sun Forest City Ventures Ltd., a jointly promoted by Gurgaon-based Sun Group and UK-based Forest City International, proposes to set up an aerospace hub near Bangalore. The state government has already accorded the approval to the project estimated to cost Rs 10,000 crore ($1.8 billion).
Land for the project has been identified and preliminary notification has been issued to farmers for acquisition of their lands at the prevalent market rate. The cluster project 'Vayu', to be built on over 1,000 acres land, is expected to generate employment to 242,000 people and house domestic and overseas aerospace firms in an integrated space with world-class infrastructure facilities.
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