Skanda Aerospace Technology Private Limited

Hyderabad (Telangana): Skanda Aerospace Technology Private Limited (SATPL) plans to invest Rs. 250 crores to set up a facility at Hyderabad. SATPL is the joint venture between Raghu Vamsi Machine Tools (RMVT) and Rave Gears, LLC, Texas USA and their production facility becomes the first private company having capability to manufacture Helicopter Gears and Gear Boxes in India. The joint venture (SATPL) will have 55% holding by Rave Gears while RVMT & Investors hold 45%. The JV Company will invest Rs. 250 Cr and provide employment for 1000 in the next 3 to 5 years. Rave Gears have also committed to provide annual orders…