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…