Aequs Aerospace on Monday inaugurated its state-of-the-art 1 lakh square feet aerospace machining facility at Aequs Special Economic Zone (SEZ) in Belagavi, Karnataka.
The facility was inaugurated by Defence Minister Manohar Parrikar in the presence of other dignitaries and delegates from Airbus Group. This facility is meant for manufacture of aerospace machined components and sub-assemblies for Airbus Group.
"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," Minister Parrikar said.
Aequs is planning to invest $50 million at the facility over the next five years and it is expected to create employment for over 1,000 skilled professionals.
"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," Aequs chairman and CEO Aravind Melligeri said.
When operated at its peak capacity, the facility will be able to generate a revenue of $75 million per annum. It has a capacity of 150 advanced computerised numerical control (CNC) machines, making it one of the largest aerospace machining facilities in India.
"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," said Airbus senior vice-president material & parts procurement Olivier Cauquil.