Adibatla, near Hyderabad, with an initial investment of $15 million. It will be set up for the purpose of manufacturing and supplying precision components to Boeing, after securing a contract with the American multinational corporation. The plant in Adibatla will employ 300 people over the next three years, Raghu Vamsi said in a statement, although the company did not reveal the value of the contract with Boeing.
Following the announcement, the Hyderabad-based company’s managing director Vamsi Vikas Ganesula noted that the contract is a major achievement, not only for Raghu Vamsi, but also for the state of Telangana, where the city of Hyderabad is located. “The contract is a testimony to our precision manufacturing, consistent delivery, and first-time quality,” he said.
Sharing his views regarding the deal, Boeing India’s director of supply chain management Ashwani Bhargava added that awarding the contract to Raghu Vamsi was an “important step” in Boeing’s commitment towards the Indian government’s Aatmanirbhar Bharat (self-reliant India) 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,” he added.
Over the recent past, it has become apparent that Telangana is establishing its position as an attractive destination for aerospace and defence projects. Several senior government officials, including the Minister for Industry and Commerce K. T. Rama Rao, have been highlighting Hyderabad’s emergence as a hub for defence and aerospace manufacturing.
Raghu Vamsi is the second company from Hyderabad to secure a contract from Boeing. Azad Engineering, manufacturer of aerospace and turbine components, announced last week that it will be supplying critical components such as hydraulic and mechanical fittings to the American multinational corporation from the first quarter of next year.
