Bengaluru: Space technology startup and German agrochemical major Bayer will invest a combined Rs 700 crore in Karnataka, creating nearly 1,500 jobs, Minister for Large and Medium Industries MB Patil said on Tuesday after meeting senior representatives of the two companies in Bengaluru.




Astrobase, a Bengaluru-based company developing rockets and launch vehicles, will invest Rs 500 crore to set up a manufacturing facility at the Adinarayana Hosahalli Industrial Area in Bengaluru Rural district. The project, to be established on 10 acres, will have the capacity to produce 40 rocket engines annually and is expected to generate more than 1,250 jobs.




Patil said Astrobase is developing medium-lift launch vehicles, reusable launch systems and indigenous rocket propulsion technologies. The company is led by professionals with experience in India’s space programme, including former ISRO scientists.




Astrobase has developed an indigenous rocket engine named Everest for launch vehicles capable of carrying payloads between 8 tonnes and 26 tonnes. The company aims to increase its annual payload delivery capacity to 100 tonnes by 2032 and 1,000 tonnes by 2040. Patil said the investment comes at a time of growing global demand for launch services.




Bayer will invest Rs 200 crore to establish a Global Capability Centre (GCC) in Bengaluru, creating about 220 jobs. Patil said he had held discussions with the company's leadership in Amsterdam during his recent visit to the Netherlands to attract investments to Karnataka.




The minister said Bayer is keen to hold the groundbreaking ceremony before the Global Investors Meet scheduled for April next year and begin operations at the earliest.




Bayer already operates a service and innovation hub in Bengaluru and a crop research centre in Chamarajanagar. The company has been present in India for 125 years, employs around 11,000 people, and runs seven manufacturing plants and three Global Engineering Centres across the country.




Astrobase Co-founder Neeraj Khandelwal, CFO Nishant Jain, Head of Business and Strategy Capt Puneet Balasubramanian, and Bayer's Dr Himanshu Patel attended the meeting. Senior state officials, including KIADB CEO Govind Reddy, were also present.