Telangana Industries and IT Minister D. Sridhar Babu with Raghu Vamsi Group leadership, officials and industry leaders at the groundbreaking for the new facility near Hyderabad on Thursday (November 21, 2024).
| Photo Credit: Arrangement
Hyderabad-based high precision, life critical products maker for aerospace, defence, space, oil and gas as well medical sectors, Raghu Vamsi Group is setting up a manufacturing facility with ₹300 crore at the Telangana government’s Hardware Park near the Hyderabad international airport.
Scheduled to become operational by September 2025
Research and development, assembly besides manufacturing will be facets of the facility whose foundation stone was laid on Thursday (November 21, 2024) by Industries and IT Minister D. Sridhar Babu. Scheduled to become operational by September 2025, the facility will primarily consist of three buildings totalling 2 lakh square feet on eight acres. It is expected to employ 2,000 people over the next three years.
Raghu Vamsi Group said it has committed an investment of ₹300 crore for the facility, which will feature dedicated manufacturing bays for 15 original equipment manufacturers (OEMs). “With this investment, we aim to not only enhance our manufacturing and R&D capabilities but also employ 2,000 people over the next three years and contribute to the economic growth of Telangana,”managing director Vamsi Vikas said.
In the last five years, Raghu Vamsi Group has grown at a CAGR of over 35% with orders exceeding ₹2,000 crore. Towards supporting its global ambitions, the Group has expanded its manufacturing capabilities through strategic partnerships and joint ventures with global industry majors such as ITP Aero of Spain, Rave Gears of the U.S., Adani Defence and Part East Robotics.
The expansion allowed it to specialise in three verticals – high precision contract manufacturing for aerospace, defence, oil and gas and medical OEMs such as Boeing, Eaton, Haliburton, GE Healthcare and, Collins Aerospace. Another vertical is build to specification as part of which it will make critical sub-assemblies such as rocket motor casings, thrust vector controls, and air bottles for Indian government agencies like DRDO, ISRO, HAL and BDL. The third vertical is deep technology products for Indian defence forces.
Earlier this month, it had announced acquisition of British precision machining firm PMC Group that specialises in components for the oil and gas industry.
Published – November 21, 2024 05:40 pm IST