Aerospace firm Raghu Vamsi is setting up a facility near Hyderabad with an initial investment of $15 million to manufacture and supply precision components to Boeing.
The plant in Adibatla will be its fifth and is expected to be inaugurated next month. It will be dedicated to Boeing’s requirements and employ 300 people in three years, Raghu Vamsi said in a release. The firm, however, did not mention the value of the contract and extent of the plant.
Managing director Vamsi Vikas Ganesula said the Boeing contract is a significant milestone not just for Raghu Vamsi, but also for Telangana. “The contract is a testimony to our precision manufacturing, consistent delivery, and first-time quality,” he said. For over a decade now, the firm is engaged in manufacturing and supplying high-end, high-quality precision parts to aerospace and defence industry in India and abroad. It makes critical parts and sub-assemblies for commercial airplanes, defence and space systems for international and domestic OEMs. Across its existing four facilities, which are in Hyderabad, the firm employed 600 people.
Boeing India director-Supply Chain Management Ashwani Bhargava said the awarding of the contract is an “important step in our commitment to the government of India’s Aatmanirbhar Bharat vision. As a company with over seven decades of presence in India, Boeing is focused on supporting the development of aerospace and defence capabilities in India.”
Raghu Vamsi is the second company from Hyderabad in recent weeks to announce a contract from Boeing to manufacture and supply critical parts. Last month, Azad Engineering had said it will begin delivering critical components, including hydraulic and mechanical fittings, to Boeing from first quarter of 2022.
These developments are also a pointer to Telangana consolidating its position a preferred destination for aerospace and defence projects. Industries Minister K.T.cRama Rao, senior government officials as well as some top level executives of global firms have been highlighting, at different meetings, the emergence of Hyderabad as a hub for defence and aerospace manufacturing. Besides hosting many defence research labs that serve as a big boost to development of defence suppliers firms, Hyderabad is also home to leading global firms and their joint ventures in the areas, including Boeing, Lockheed Martin, GE Aviation, Safran Aircraft Engines, Sikorsky and Kalyani Rafael Advanced Systems.
