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16
February 2017
Leading
aerospace precision engineering firm Aequs would invest Rs500 crore to set up a
dedicated manufacturing facility at Tuem in Goa for the Indian defence sector,
said a top company official here on Thursday. The Total Investment & Insurance Solutions
"Our
new facility will make high-end components and systems for the Indian defence
industry and support the government's 'Make in India' initiative," said
Aequs Chief Executive Officer Aravind Melligeri at the Aero India 2017 expo
here.
As
a tier-1 supplier of aerospace components to Indian and global majors, Aequs
has a $100 million (Rs.667 crore) machining facility in its 250-acre Special
Economic Zone (SEZ) at Belagavi, about 500 km away from here. The Total Investment & Insurance Solutions
The
Belagavi facility makes titanium machined parts for the A-320 new engine
programme of the global aerospace major Airbus SAS. The Total Investment & Insurance Solutions
The
new facility will be built by February 2019 in Goa's industrial cluster, about
30 km from Panaji, where the Goa government has given the company 50 acres of
land on lease at a minimum cost. The Total
Investment & Insurance Solutions
"The
facility will have multi-capability with CNC (Computer Numeric Control)
machines and new age technology to design and make precision components for the
Indian defence firms," Melligeri. The
Total Investment & Insurance Solutions
The
company plans to hire about 2,000 engineers for the facility and hopes to get
technology transfers from global aerospace majors. The Total Investment & Insurance Solutions
"We
will also support the government's 'Skill India' initiative to enhance the
skills of our engineers in precision manufacturing and new-age
technologies," noted Melligeri.
As
the Indian defence sector is import-dependent for products and technologies,
the new facility is aimed at increasing the local content and minimising
imports.
"The
company's new facility will provide impetus to our defence sector and promote
the government's 'Make in India' programme," said IT Secretary and
Director Ameya Abhyankar on the occasion. The
Total Investment & Insurance Solutions
Foraying
into defence manufacturing in 2013, the eight-year-old company has been working
with the state-run Hindustan Aeronautics Ltd (HAL) on machined structural parts
for its various platforms, including the Light Combat Aircraft (LCA) Tejas,
Sukhoi-30MKI fighter and Advance Light Helicopter (ALH). The Total Investment & Insurance Solutions
"Our
Goa facility will manufacture high-end aerospace and defence equipment to
reduce import costs and add in-country value to the sector," added
Melligeri.
The
company's SEZ unit at Belagavi has facilities for fabrication, machining,
treatment, assemblies and warehousing for production value chain.
Besides
Airbus, the company's global customers include UTAS, Bosch, Eaton, Baker Hughes
and Halliburton, among others. The Total
Investment & Insurance Solutions
The
company is showcasing its products and technologies at the 11th edition of the
five-day biennial expo at the Yelahanka base of the Indian Air Force (IAF).The Total Investment & Insurance Solutions
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