Last Updated: 03rd August 2021
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 facility will employ more than 300 people over the next three years, a press release from Raghu Vamsi said on Monday.
“This 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,”Ashwani Bhargava, Director, Supply Chain Management, Boeing India said.
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.
The company has several strategic partnerships with world-class companies for its technological advances and business growth.
News Source: https://www.moneycontrol.com/news/business/raghu-vamsi-to-set-up-15-million-facility-for-boeing-requirements-in-hyderabad-7261181.html