Chennai: Adani Defence and Aerospace, part of the diversified conglomerate Adani Group, said on Wednesday it is collaborating with Punj Lloyd and US-based Rave Gears to manufacture high precision aerospace gears.
Announcing the tie-up during the ongoing DefExpo, organised by the defence ministry at Thiruvadanthai, about 40km from Chennai, Adani Defence and Aerospace head Ashish Rajvanshi, said the tripartite agreement would leverage on the strengths of the three companies.
Declining to elaborate about the partnership, he said “we are collaborating together to manufacture high-end aerospace gears in India." The companies would evaluate options of floating a new company under the agreement over the coming months, he said.
“The collaboration intends to manufacture gears and gear assemblies mainly for rotary platforms, currently under production in India," Rajvanshi told reporters. The collaboration will evaluate for setting up a manufacturing base in India and also look for exporting aerospace gears to global original equipment manufacturers (OEMs), he said.
“The agreement furthers the indigenisation agenda under Make in India programme and will bring state-of-the-art technology to the country," he said.
Commenting on the partnership, Rave Gears CEO, Nick Patel, said, “It is an opportunity for Rave to do what its best at; to offer technology which led Rave to conquer NASCAR market in three years. We at Rave are excited at the immense potential that offers from this collaboration."
Punj Lloyd, manufacturing business president, Ashok Wadhawan, said the collaboration will enable India achieve indigenisation in one of the most critical components in rotary platforms.