Following approval from the Union government to the detailed project report for the Codissia Defence Innovation and Atal Incubation Centre last week, the construction work of the centre will begin in May or June.
Speaking at a session on defence indigenisation recently, Codissia president R Ramamurthy informed about the development.
He also said Codissia had transferred Rs 2.34 crore to the escrow account meant for the project last week. In January 2018, the defence ministry granted Codissia Rs 20 crore for setting up a defence innovation centre.
Out of this, Rs 15 crore was for the innovation centre and Rs 5 crore was a soft working capital for innovating products.
After interactions, Ramamurthy said, the project was clubbed with the Atal Incubation Centre, through the Innovations for Defence Excellence (iDex) scheme.
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