Bharat Forge in JV to Make Power Plant Machinery

Feb. 20, 2008
Partner is Indias National Thermal Power Corporation

Bharat Forge and National Thermal Power Corporation (NTPC) plan a joint venture company produce components for power plants and other industries in India. “The company has signed a Memorandum of Understanding (MoU) with NTPC Ltd to set up a joint venture for its foray into the capital goods sector,"

Bharat Forge said in a statement. "Bharat Forge will hold a majority stake in the joint venture (JV)," the statement added. The new company will be engaged initially in manufacturing forgings, castings, casings, fittings, and high-pressure pipes for power and other industries. It would eventually also manufacture other power plant equipment and machinery.

The two parties to the JV signed the MoU on Feb. 8. It calls for an initial investment of .Rs 3,000 crore to set up the greenfield manufacturing facility.