Pic: Representational
Paras Defence & Space Technologies set to invest Rs 12,000 crore
MUMBAI, Jan 23 (The CONNECT) – Paras Defence & Space Technologies Limited, a leader in optics and optronic systems for defence and space, is set to invest Rs. 12000 crores to establish India’s first Optics Park in Maharashtra.
The defence company has signed a Memorandum of Understanding (MoU) with the Maharashtra Government of Maharashtra at the World Economic Forum in Davos.
The investment is set to create a state-of-the-art technology hub that will reshape India’s optics and optical systems sector and establish itself as a World Leader in Optical Technologies.
The project is poised to generate over 2,000 direct jobs and catalyze technological advancements across key industries such as defence, space, automotive, industrial, and commercial applications.
The State Government has pledged its comprehensive support to Paras Defence in securing land, various incentives and approvals to bring this ambitious project to fruition.
Munjal Sharad Shah, Managing Director, Paras Defence & Space Technologies Ltd, stated, the Optics Park will bridge technological gaps and create opportunities for knowledge exchange, innovation, and growth across sectors. This initiative represents a monumental milestone for both Paras Defence and India’s technological aspirations.
A State government spokesperson said, the project exemplifies “our commitment” to establishing the state as a hub for advanced industries and investments.
The Optics Park Project is expected to commence in 2028 and be completed by 2035.
Few highlights of the Optics Park project are:
- Comprehensive Infrastructure: Facilities for raw material development, optical assembly, advanced system testing and Academy for Optics & Allied Technologies.
- Advanced Technologies: Development of silicon and germanium growing technologies, MEMS-based sensors, Semi-Conductor Materials, adaptive optics, and cutting-edge laser systems.
- Diverse Applications: Optical systems for quantum communication, anti-drone systems, and high-speed imaging.
- Optical Materials: Development of raw materials, including Germanium, Silicon, Zinc Seleniad,, and Glass Ceramic Material technologies which can be used to for various applications such as Optical Systems, Semiconductor Products, Space Components etc.
