Raymond Group to invest ₹1,000 crore in aerospace, auto units in Andhra

The projects in Andhra Pradesh's Anantapur district will create 5,400 jobs and receive Rs 695 crore in incentives as Raymond expands its aerospace and auto footprint

The Raymond Group will set up two global manufacturing units in Anantapur district in Andhra Pradesh at a cumulative investment of around ₹1,000 crore, a move which will strengthen the company’s foothold in aerospace and automotive sectors.

 

The aerospace manufacturing unit will come up at Gudipalli, while the automotive one will be set up at Tekulodu in the district.

 

The ventures will see a cumulative investment of around ₹1,000 crore, with government incentives of ₹695 crore, generating around 5,400 jobs. According to a source aware of the development, the State Investment Promotion Board (SIPB) has already cleared the proposals submitted by the company for the project.

 

 

“Out of the total investment of ₹943 crore, the Andhra Pradesh government will give incentives of over ₹695 crore,” the source said. According to media reports, Raymond Group entered aerospace manufacturing by acquiring a controlling stake in Maini Precision Products (MPPL) in 2023 and is investing further in high-precision engineering, including auto and aerospace components. 

For the automotive business unit at Tekulodu, the state had cleared incentives worth ₹314 crore for JK Maini Precision Technology for a total investment of ₹430 crore. The project may give direct employment to over 4,096 people.

 

For the aerospace venture, JK Maini Global Aerospace will invest around ₹510 crore, generating 1,400 jobs at a 47-acre campus in Gudipalli. Incentives for this venture may come to around ₹380 crore. To date, the SIPB has cleared investments to the tune of around ₹6.3 trillion since the new government took charge last year.

 

Founded in 1973, Maini Precision Products Ltd established a strong legacy in automotive and industrial component manufacturing. Its journey into aerospace began in 2004, as it started delivering mission-critical components to global aircraft OEMs. JK Maini Global Aerospace Ltd (JKMGAL) is a trusted name in aerospace manufacturing, precision engineering, and high-complexity component production for global OEMs and Tier-I suppliers. 

Since N Chandrababu Naidu took charge as the Chief Minister in June 2024, the state has attracted fresh RE projects worth ₹2.2 trillion. A major chunk of these investments is coming from Hyderabad-based Navayuga Engineering, which will be expanding its Gujjili Pumped Storage Power (PSP) project in Alluri Sitharama Raju district from 1,500 Mw to 2,400 Mw at an investment of ₹15,455 crore. Another ₹15,050 crore is by Chinta Green Energy for PSP expansion from 350 Mw to 2,400 Mw in YSR Kadapa district.

 

Among the industry majors, Serentica Renewables will be installing 550 Mw of wind power projects at two locations — Anantapur and Kurnool — at a total investment of ₹2,400 crore. Brightfuture Power has also zeroed in on 880 acres of land in Anantapur for a 350 Mw wind power unit at an investment of ₹3,286 crore. Hexa Energy got clearance for a 100 Mw hybrid solar and wind project with a ₹1,200 crore investment.