MoU23 Jan 2025, 12:08 am
Paras Defence Inks MoU with Maharashtra Government for Rs. 12,000 Crore Optics Park Project
AI Summary
Paras Defence and Space Technologies Ltd. has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for the proposed Optics Park Project in Navi Mumbai. The project, set to commence in 2028, is expected to generate around 2000 direct employment opportunities and become India's first Technology Hub for Optics and Optical Technologies. The Company plans to invest approximately Rs. 12,000 crores over a period of 10 years. The Government of Maharashtra will facilitate necessary permissions, registrations, approvals, clearances, and fiscal incentives for the project.
Key Highlights
- Paras Defence has signed an MoU with the Government of Maharashtra for a proposed Optics Park Project in Navi Mumbai.
- The project is expected to commence in 2028 and generate around 2000 direct employment opportunities.
- The Optics Park is projected to be India's first Technology Hub for Optics and Optical Technologies.
- Paras Defence plans to invest approximately Rs. 12,000 crores over a period of 10 years.
- The Government of Maharashtra will facilitate necessary permissions, registrations, approvals, clearances, and fiscal incentives for the project.