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Publish Date : 09-Sep-2015

A company that makes components for aircraft, Aequs Aerospace, will invest $50 million (Rs 334 crore) over the next five years in its aerospace machining plant in Belagavi, a district in north Karnataka. The aerospace production plant was opened by Defence Minister Manohar Parrikar. Located on the 250-acre Aequs Special Economic Zone (SEZ), the facility is called as the country's largest aerospace machining centre for Airbus Group.

The facility will be able to generate revenue of $75 million per year. It has capacity for 150 advanced Computer Numerical Control (CNC) machines making it one of the largest aerospace machining facilities in India. The minister said, "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. With the revised offset policy, both Indian and foreign investors will benefit from technology transfer opportunities as well as the ability to form joint ventures in support of India defence procurement projects."

Aravind Melligeri, chairman and chief executive officer of Aequs, added, "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."

Senior vice president material and parts procurement at Airbus, Olivier Cauquil, said, "We are proud to claim that today every Airbus aircraft is partly made in India and we fully support the Make in India campaign. 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. Aequs has been a strategic partner for us in India and we applaud their ability to bring this manufacturing capability to the country."

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