Indian aerospace parts manufacturer Aequs Aerospace has announced that it will invest in the country’s largest aerostructures factory.
The company plans to invest $50m in a new manufacturing facility located in the Aequs Special Economic Zone (SEZ) in Belagavi, a city in the central Indian state of Karnataka.
This investment will be made over the course of 5 years, and will eventually allow the new 100,000 sq.ft. facility to employ over 1000 workers.
Aequs intends for the plant to be used as a sole supplier of machined parts for Airbus Group in India.
This facility, when complete, will have the capacity for 150 advanced CNC machines, making it one of the largest aerospace machining facilities in India.
When operating at peak capacity, Aequs claims that it will be able to generate revenue of $75m per year.
“This aerospace machining facility underscores our commitment to the global aerospace industry and Airbus Group. Airbus has been a key customer for Aequs and I am confident that this new facility will further benefit Airbus’ global aerospace supply chain,” said Aravind Melligeri, chairman and CEO of Aequs in a statement.
The inauguration event for this new state-of-the-art facility was held last week, and was attended by executives from Airbus Group.
Airbus praised Aequs for its long-standing relationship as a parts supplier for their company.
“This state of the art aerospace machining facility dedicated to Airbus represents a significant milestone in our journey with Aequs and in growing our Indian industrial co-operation footprint for the long term,” said Olivier Cauqyuil, senior vice president for material and parts procurement at Airbus
“Aequs has been a strategic partner for us in India and we applaud their ability to bring this manufacturing capability to the country.”
Additionally, the event was attended by the Indian Minister of Defense, Manohar Parrika, who pointed out India’s growing defense manufacturing prowess.
“I am delighted to see Indian companies creating value in the global aerospace industry and supporting the Make in India initiative. There is great opportunity in defence sector procurement,” he said.