ISRO takes over property of HMT watch factory

The Indian Space Research Organisation, the space agency of the Government of India, is on the expansion mode as its going to develop its new campus on a sprawling 119.65 acres land on the

Published: 14th July 2018 04:14 AM  |   Last Updated: 14th July 2018 04:14 AM   |  A+A-

The erstwhile HMT watch factory IV

Express News Service

TUMAKURU:  The Indian Space Research Organisation, the space agency of the Government of India, is on the expansion mode as its going to develop its new campus on a sprawling 119.65 acres land on the erstwhile HMT watch factory IV.It became official with the assistant company secretary Kishore Kumar S writing to the BSE and NSE on Friday.“In line with approval of Union Cabinet dated March 31, 2017, for transfer of 119.65 acres of land, 109.823 acres of land of HMT Watches Ltd, at Tumkur has been transferred to M/s ISRO on 27.6.2018 by way of registration of sale deed in favour of ISRO. After resolving the dispute issue with ancillary units, the balance land of 6.952 acres will be handed over to ISRO,” it read.

As was imminent, ISRO on behalf of the President of India had called tenders for service contract to providing security services for the newly-acquired land. On Saturday, in a formal function, ISRO will publicly announce the taking over of HMT watch factory campus.“ The chairperson Dr K Sivan was invited for the function but since he is out of station, he cannot make it. In his place, the the joint secretary of the department of Space, S Kumaraswamy will take part,” said LS member S P Muddahanume Gowda.

The event is going to be morale boosting one for the residents who can revisit the glory of the HMT watch factory when it was established in 1978 offering over 1,600 jobs.The head of Siddaganga Mutt Sri Shivakumara Swamiji too has voluntarily given 40 acres of land on a government fixed price for the campus situated off Bengaluru-Honnavara NH-206, about 65 kms from Bengaluru.According to sources, it may shift the Liquid Propulsion Systems Centre, currently based at Indiranagar in Bengalru to Tumakuru. 

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