A joint venture of the Hyderabad-based Raghu Vamsi Machine Tools and US firm Rave Gears will be investing ₹250 crore to establish a manufacturing facility in Hyderabad for helicopter gear and gear boxes.
It will be the first private firm to have capability to manufacture helicopter gears and gear boxes in India, Skanda Aerospace Technology, the JV firm, said on Thursday.
Adibatla, an outskirts of Hyderabad that hosts JVs of some of the well-known names in aerospace and defence sector, is where the plant is to be set up providing employment to 1,000 people over the next 3-5 years. The plant will be ready by January 2023, sources said.
