HYDERABAD: Raghu Vamsi, a city-based aerospace components maker which has won a contract from Boeing to manufacture and supply precision components, is setting up a dedicated facility for the purpose with an investment outlay of USD 15 million.
The facility will employ more than 300 people over the next three years, a press release from Raghu Vamsi said on Monday, August 2, 2021.
"This is a significant milestone not just for Raghu Vamsi, but for the state of Telangana. The contract is a testimony to our precision manufacturing, consistent delivery, and first-time quality," Vamsi Vikas Ganesula, Managing Director, Raghu Vamsi said.
"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.
For over a decade, Raghu Vamsi has been dedicated to manufacturing and supplying high-end and high-quality precision parts to the aerospace and defence industry in India and abroad.
The company has several strategic partnerships with world-class companies for its technological advances and business growth.