Belagavi-based Aequs Ltd (formerly Aequs Pvt Ltd) has entered into a non-binding memorandum of understanding with the Karnataka Government to set up manufacturing facilities for aerospace precision engineering products and consumer electronics enclosures, with a proposed investment of ₹2,856 crore over five years.
The project will be implemented through its subsidiaries across multiple locations, strengthening the company’s manufacturing footprint in the State.
Multi-location manufacturing plan
As per the MoU, Aequs plans to establish facilities at the Aequs Special Economic Zone in Belagavi, the Hubballi Durable Goods Cluster in Itigatti, and the Gamanagatti Industrial Area in Hubballi.
These facilities are expected to cater to both aerospace and consumer electronics segments, leveraging the company’s existing capabilities in precision engineering.
Government support
The Karnataka Government has committed to facilitating necessary approvals, registrations and clearances, along with providing incentives in line with prevailing State policies and regulations.
The support framework is aimed at enabling timely execution of the project and attracting large-scale manufacturing investments into the region.
Parallel investment in Tamil Nadu
Last month, Aequs, along with its group companies, had signed a separate non-binding MoU with the Guidance Bureau of the Tamil Nadu Government for an investment of ₹1,900 crore over ten years.
The proposed investment in Tamil Nadu will focus on manufacturing components for aircraft engines, landing gear and systems.
Infrastructure and incentives
The Tamil Nadu Government will extend support in terms of infrastructure, regulatory facilitation and uninterrupted power supply on a best-effort basis.
Standard incentives under the State’s industrial policy will also be applicable, supporting the company’s expansion in the aerospace manufacturing segment.