Goa takes wing as Aequs set to fly in; spurs Tuem project
Aequs, a leading Indian firm in aerospace precision engineering, will set up its manufacturing facility at the upcoming Tuem Electronic System Design and Manufacturing (ESDM) Park. After Prime Minister Narendra Modi laid the foundation stone for Tuem ESDM in November 2016, this will be the first anchor unit at this much-ambitious project of the state government.
Story: the goan | network | 17th February 2017, 04:48 Hrs
Confirming the development, chief minister, Laxmikant Parsekar, said, “Aequs is a defence and aerospace manufacturing company. They had requested us for 50 acres of land, which we have decided to give to them in Tuem ESDM Park. They had specially invited the team of Goa government.”
Parsekar continued, “This project is expected to generate nearly 2,000 jobs demanding qualification ranging from an ITI pass-out to an IIT engineer. This will be one of the four major anchor units at Tuem ESDM park.”
Tuem ESDM Park was one of the key projects of the current state government. It should come as a boost to Goa that companies are showing interest to set up manufacturing base there. Ameya Abhyankar, secretary to the Chief Minister and also secretary IT, informed, Aequs’s facility will be among the four anchor units planned at Tuem ESDM Park. It is expected that
they will start construction
of their facility by the end of this year.”
Aequs manufactures aero systems, aero structures, engine components and landing gear components, which it supplies to Indian and global companies. At its Goa facility, the company will have multi-capability with computer numeric control machines and technologies to design and manufacture precision components for defence firms in India.
The company also has machining facility at a special economic zone (SEZ) in Belagavi in neighbouring state Karnataka. It is expected that Aequs’s new manufacturing facility at Tuem will give impetus to defence manufacturing in India.
As of now, the country faces a challenge, wherein it has to import key defence related products and technologies from abroad, which not only increases the import bill but is also not advisable from strategic viewpoint.