AP govt approves first aerospace project under new policy; Raymond Group to invest Rs 1,000 crore

Amaravati: The AP government has cleared two investments from the Raymond Group worth Rs 1,000 crore under the Industrial Development Policy 4.0 (2024–29).

The government said that the step is a major stride for Andhra Pradesh’s industrial resurgence.

5,400 direct jobs in Sri Satya Sai District

The twin projects — spanning aerospace and automotive components manufacturing — will generate over 5,400 direct jobs in Sri Satya Sai District, cementing the state’s leadership in advanced manufacturing, the government said in a statement.

This marks Andhra Pradesh’s first aerospace investment under the new aerospace policy, signalling the state’s bold move into the high-technology frontier.

The approvals were formalised through an issuance by the Industries and Commerce Department, alongside a special incentive package of Rs 700 crore to accelerate project rollout.

Aerospace manufacturing takes flight in Satya Sai District

Raymond Group’s subsidiary JK Maini Global Aerospace Limited will establish an advanced aerospace manufacturing facility at Satya Sai District with an investment of Rs 510 crore.

The facility will create 1,400 direct jobs and produce precision components for global Original Equipment Manufacturers and Tier-1 suppliers — integrating Andhra Pradesh into the global aerospace supply chain.

Commercial production is set to begin by May 2027.

Auto-component plant to power job generation

JK Maini Precision Technology Ltd will set up a world-class automotive component manufacturing unit at Gudipalli, investing Rs 430 crore and creating 4,096 jobs. The plant, also scheduled for production by May 2027, will serve India’s and the world’s leading auto companies, driving regional employment and skill development.

‘Propelling Andhra Pradesh as India’s next industrial powerhouse’

The approvals were cleared after detailed deliberations at the State Investment Promotion Board meeting chaired by Chief Minister N Chandrababu Naidu, following recommendations from the State Investment Promotion Committee.

Under the ‘Speed of Doing Business’ mission, the Industries Department will provide full facilitation support through a dedicated Project Management Unit and the Single Desk Portal 2.0, ensuring smooth and timely project execution.

Officials noted that these projects will spark ancillary industrial growth, enhance skill development, and elevate Andhra Pradesh as a national hub for precision engineering and advanced manufacturing.

With Raymond joining Google’s data hub project, Andhra Pradesh continues its transformation into India’s most dynamic destination for cutting-edge industry and global investment, the government said.