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.
Rave Gears, which has 55% stake in the JV, committed to provide Skanda annual orders to the tune of $9 million.
Headquartered in Texas, the US firm is designer, manufacturer and system integrator of gears and precision drive trains catering to aerospace, defence, automotive and industrial customers worldwide. Its supplies to OEMs such as Boeing, Bell, Collins, BAE Systems, Rolls Royce, Mclaren and Nascar, Skanda said in a release.
Raghu Vamsi Machine Tools, which along with investors, holds the remaining, 45% stake in Skanda, is into manufacturing and supply of high-end, high-quality precision parts to aerospace and defence industry in India and abroad. It makes critical parts and sub-assemblies for commercial air planes, defence and space systems for international and domestic OEMs. Last year, it had announced $15 million investment on a plant, its 5th, to manufacture and supply precision components to Boeing.
Hyderabad, which has emerged as a preferred destination for the aerospace and defence manufacturing, has in recent times seen considerable traction in terms of the MSMEs announcing new projects as well as investment plans.
