Andhra Pradesh approves Rs 940 crore Raymond Group investments; 5,500 jobs expected

Raymond Group’s subsidiary, JK Maini Global Aerospace Limited, will set up an advanced aerospace manufacturing facility in Satya Sai district with an investment of Rs 510 crore.

The Andhra Pradesh government has approved two investments by the Raymond Group worth Rs 940 crore, covering aerospace and automotive components manufacturing, officials said on Wednesday.

The approvals come under the state’s Industrial Development Policy 4.0 and are expected to generate 5,500 direct jobs in Sri Satyasai district.

“The government has cleared two landmark investments from the Raymond Group…under the Industrial Development Policy 4.0 (2024–29),” a TDP press release said.

This marks Andhra Pradesh’s first aerospace investment under the new aerospace policy, the release added, noting that a special package worth Rs 700 crore will accelerate the project rollout.

Raymond Group’s subsidiary, JK Maini Global Aerospace Limited, will set up an advanced aerospace manufacturing facility in Satya Sai district with an investment of Rs 510 crore.

The facility is expected to 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, the release said.

Commercial production is scheduled to begin by May 2027.

Similarly, Raymond subsidiary JK Maini Precision Technology Ltd will establish an automotive component manufacturing unit at Gudipalli, investing Rs 430 crore and creating 4,096 jobs.

Scheduled to start production by May 2027, the plant will cater to leading auto companies in India and abroad, boosting regional employment and skill development, the release added.