Aequs expanding free trade zone in Karnataka
Bengaluru, June 22 (IANS) Leading aerospace venture Aequs Special Economic Zone (SEZ) on Wednesday signed a deal with Apollo Aerospace Components Ltd to expand its free trade warehousing zone at Belagavi in Karnataka.
“The pact envisages a 10,000-square feet free trade warehousing zone in our SEZ for local material sourcing,” said Aequs chief executive Aravind Melligeri in a statement here.
Though Apollo has been operating in the SEZ since 2013, the expansion will create more capacity to provide local resource to support growing demand from Aequs and other aerospace customers from the first quarter of 2017.
As the country’s first integrated ecosystem for aerospace component manufacturing in the private sector, the eight-year-old Aequs facility is spread over 250 acres on the outskirts of the industrial town in the state’s northern region.
“The new facility will be part of total 40,000 square feet free trade warehousing zone, which occupies five operating units. The expanded area will accommodate 10 operating units in the near future,” Melligeri said on the occasion.
“With this distribution centre located at Aequs SEZ, we are in a position to support all the customers supply chain needs,” Apollo Managing Director Jason Crabtree said.
Among Aequs global customers are Airbus, UTAS, Bosch, Eaton, Baker Hughes and Halliburton.
Apollo offers supply chain management, fasteners & hardware and aircraft spares, with facilities in Chicago, New Jersey in North America, Seville in Spain, Myles in Poland and Birmingham in Britain.
Aequs has production facilities in Bengaluru and Houston in the US.