Rajkot based Macpower CNC Machines Limited has signed a Rs 100 crore memorandum of understanding with the Gujarat government during the Vibrant Gujarat Global Investors' Summit.

The MoU was signed during the two-day pre-VGGIS 2024 organised in Shapar-Veraval near Rajkot on October 16 and 17 last year and presided over by Gujarat Agriculture Minister Raghavji Patel, who is also the guardian minister of Rajkot.

Chairman and Managing Director (MD) of Macpower Rupesh Mehta told The Indian Express, “We are among the handful of vendors in India who hold the license to manufacture defence and aerospace parts. As of now, we are providing CNC machines, technical knowhow and training to enterprises manufacturing defence goods and aerospace equipment. We have the capacity and knowhow to manufacture custom-made machines for these sectors and therefore, we have signed an MoU with the Gujarat government.”

“We have many orders pending and given the government’s thrust on indigenous manufacturing of defence equipment, we are expecting a high growth in this sector. Therefore, we have decided to launch a new arm called Macpower Defence and have signed an MoU with the government for operationalising it,” the MD said.