The invention discloses large multifunctional equipment which comprises a main beam, a rotary driving seat, a boring and milling head and a knife rest assembly, wherein the main beam is mounted on therotary driving seat; the main beam is a weldable frame beam; the boring and milling head is connected to one end of the main beam through an axial radial adjusting mechanism; and the knife rest assembly is connected to the other end of the main beam. By means of the arrangement, the maximum processing diameter range of an annular part can be adjusted as needed. The main beam is designed in the form of the weldable frame beam, so that the length of the main beam can be adjusted according to the dimensional demand on a to-be-processed annular part so as to meet the processing demand. By adopting a structure and accessories small in size, light in weight and compact in structure, the large multifunctional equipment is transferred conveniently and is quickly mounted on site. Various functions, for example, turning a rotary flange surface, lineating and indexing a rotary taper pin-hole, boring the rotary taper pin-hole and the like, can be achieved. On this basis, the invention also provides a production line.