TASE Global Announces Major Rs 100 Crore Investment in Chennai for Aerospace and Semiconductor Growth
In a significant move to capitalize on increasing global demand, Trusted Aerospace Engineering (TASE Global), headquartered in Chennai, has unveiled plans to invest an additional Rs 100 crore over the coming year. This strategic expansion follows the recent inauguration of its new Rs 150 crore advanced machining facility, signaling robust growth in India's aerospace and industrial sectors.
New Facilities and Operational Timelines
The investment breakdown includes Rs 40 crore allocated for a state-of-the-art surface treatment facility featuring zero liquid discharge technology. This environmentally conscious unit is slated to become operational by April, enhancing the company's manufacturing capabilities. Furthermore, Rs 60 crore will be directed towards establishing a cleanroom and specialized machinery tailored for the semiconductor equipment industry, with an expected operational date by December.
Inauguration and Employment Opportunities
The newly inaugurated Rs 150-crore facility, located in Sriperumbudur near Chennai, was formally opened by Masahiko Mori, president of Japanese technical partner DMG Mori. This advanced machining plant is projected to create approximately 250 new jobs, bolstering local employment and skill development in the region.
Market Focus and Client Engagements
Sankaranarayanan Vaidyanathan, chairman of TASE Global, emphasized that the new plant will primarily serve export markets, with Europe identified as a key focus area. The company has already commenced executing aerospace orders and is collaborating with leading Tier 1 vendors of Dassault Aviation and Boeing, supplying precision-engineered aerostructure components. Initial projects are expected to kick off with Dassault programs, while the facility will also pursue certifications to undertake work for Airbus and other global original equipment manufacturers (OEMs) as customer approvals progress.
Semiconductor Industry Expansion
The upcoming semiconductor-focused facility aims to target front-end semiconductor equipment manufacturers by supplying metal systems and subsystems used in wafer fabrication tools. This move positions TASE Global at the forefront of India's growing semiconductor ecosystem, aligning with national initiatives to boost domestic manufacturing.
Financial Projections and Growth Targets
Financially, TASE Global reported revenues of Rs 49 crore last year and anticipates closing the current fiscal year with revenues between Rs 70 crore and Rs 75 crore. Over the next three years, the new India facility alone is expected to generate up to Rs 300 crore in revenue, largely driven by European customers. At the group level, the company has set an ambitious target of achieving $100 million in revenue within the next three to four years, underscoring its confidence in sustained growth and market expansion.
This investment highlights Chennai's emergence as a hub for high-tech manufacturing, contributing to India's industrial prowess on the global stage.
