Aequs Aerospace lines up $50 mn for new Belagavi facility

Aerospace manufacturer Aequs Aerospace today announced its plan to invest USD 50 million over the next five years in its North Karnataka state-of-the-art facility, which was inaugurated at Belagavi today.
The 1,00,000-sq ft facility at Aequs special economic zone has been built to manufacture aerospace machine components and sub-assemblies for the Airbus Group.
With an eye on creating jobs for some 1,000 skilled professionals, the facility, inaugurated by Defence Minister Manohar Parrikar, is looking to generate revenue of USD 75 million per annum.
Speaking at the inauguration, Parrikar highlighted the need for encouraging the Make-in-India initiative in the defence industry, saying Indian import of defence equipment is quite large.

"The biggest chunk of Make in India can come from defence... There is a distinct possibility of procurement of at least USD 8 to USD 10 billion for products in India itself per year for the next 5-10 years," Parrikar said.
Airbus Senior Vice-President, Oliver Cauquil said every Airbus aircraft is partly made in India today and the new facility will "grow its Indian industrial co-operation footprint for the long term".