Paras Defence and Space Technologies has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra, India, for the proposed Optics Park Project in Navi Mumbai, Maharashtra. This prestigious Optics Park Project is set to commence in the year 2028.
Upon allocation of land and requisite subsidies by the Government of Maharashtra, the Company proposes to invest around Rs 12,000 crore in the Optics Park over a period of 10 years. The Optics Park is expected to generate around 2000 direct employment opportunities and has the potential to become India’s first Technology Hub for Optics and Optical Technologies.
The Government of Maharashtra will facilitate the Company to obtain necessary permissions / registrations / approvals/clearances/ fiscal incentives etc. from the concerned departments of the State, as per the existing policies / rules and regulations of the Government of Maharashtra for the proposed Optics Park in Navi Mumbai, Maharashtra.
Paras Defence and Space Technologies is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions.
