Skanda Aerospace to invest Rs 250 crores in Hyderabad

ANI
13 May 2022, 14:07 GMT+10

Hyderabad (Telangana) [India], May 13 (ANI/GPRC): Skanda Aerospace Technology Private Limited (SATPL) plans to invest Rs. 250 crores to set up a facility at Hyderabad.

SATPL is the joint venture between Raghu Vamsi Machine Tools (RMVT) and Rave Gears, LLC, Texas USA and their production facility becomes the first private company having capability to manufacture Helicopter Gears and Gear Boxes in India.

The joint venture (SATPL) will have 55 per cent holding by Rave Gears while RVMTInvestors hold 45 per cent. The JV company will invest Rs. 250 Cr and provide employment for 1000 in the next 3 to 5 years.

Rave Gears have also committed to provide annual orders to the tune of $9M to Skanda Aerospace.

Located at Texas, USA - Rave Gears LLC is a designer, manufacturer and system integrator of gears and precision drive trains catering to Aerospace, Defence, Automotive and industrial customers worldwide. Rave Gears supplies to major OEMs like Boeing, Bell, Collins, BAE Systems, Rolls Royce, Mclaren, Nascar etc.

Raghu Vamsi Machine Tools is a leading supplier of High Precision Products and subassemblies to leading OEMs such as Boeing, GE Aviation, Eaton, Honeywell etc.

In the picture above seen are Tushar Patel- Partner, Nimish Mehta- MD, Rave Gears India Ltd, Vishu Patel- Director, Rave Gears India Ltd, Nick Patel- CEO, Rave Gears LLC, (Texas, USA), Vamsi Vikas- MD, Raghu Vamsi Group, Revanth Kotha- Executive Director, Skanda Aerospace Technology Pvt. Ltd.

This story is provided by GPRC. ANI will not be responsible in any way for the content of this article. (ANI/GPRC)

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to India Gazette.

More Information

null in null

Business

Section

FedEx, UPS step up as Canada Post loses market share in strikes

OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...

U.S. stocks steady Tuesday despite tariffs turmoil

NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...

Beijing blamed for covert disinformation on French fighter jet Rafale

PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...

Birkenstock steps up legal battle over fakes in India

NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...

Beijing hits back at EU with medical device import curbs

HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...

Wall Street reels after Trump invokes new tariffs

NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting...

Delhi

Section