The Raymond Group is set to establish two global manufacturing units in Anantapur district, Andhra Pradesh, with a total investment of around ₹1,000 crore. The projects aim to strengthen the company’s presence in the aerospace and automotive sectors. The aerospace unit will be located at Gudipalli, while the automotive facility will come up at Tekulodu. The combined projects will receive government incentives totaling ₹695 crore and are expected to create approximately 5,400 jobs.
Government Approvals and Incentives
The State Investment Promotion Board (SIPB) has cleared the proposals submitted by the company. For the automotive unit, the state has approved incentives worth ₹314 crore for a total investment of ₹430 crore, which is expected to generate over 4,000 jobs. The aerospace venture will involve an investment of ₹510 crore on a 47-acre campus in Gudipalli, with incentives around ₹380 crore and the potential to provide 1,400 jobs.
Expansion into Aerospace and Automotive
Raymond Group entered the aerospace manufacturing sector by acquiring a controlling stake in Maini Precision Products (MPPL) in 2023. The company is now expanding further into high-precision engineering for both automotive and aerospace components. Maini Precision Products, founded in 1973, has a long-standing reputation in automotive and industrial component manufacturing and has been delivering mission-critical components to global aircraft OEMs since 2004.
Andhra Pradesh’s Investment Growth
Since the new government took office, SIPB has approved investments totaling approximately ₹6.3 trillion. Under Chief Minister N. Chandrababu Naidu, Andhra Pradesh has attracted renewable energy projects worth ₹2.2 trillion, reflecting the state’s growing appeal to both domestic and international investors.
Renewable Energy Projects
Significant investments are being made in renewable energy across the state. Navayuga Engineering is expanding its Gujjili Pumped Storage Power (PSP) project from 1,500 MW to 2,400 MW at an investment of ₹15,455 crore. Chinta Green Energy is also expanding PSP capacity from 350 MW to 2,400 MW in YSR Kadapa district, investing ₹15,050 crore. Serentica Renewables will install 550 MW of wind power across Anantapur and Kurnool, totaling an investment of ₹2,400 crore. Brightfuture Power is setting up a 350 MW wind power unit on 880 acres in Anantapur with ₹3,286 crore in investment, while Hexa Energy has received approval for a 100 MW hybrid solar and wind project worth ₹1,200 crore.
