Bharat Forge to invest Rs.3.5 bn in MaharashtraMarch 27th, 2008 - 6:29 pm ICT by admin
Mumbai, March 27 (IANS) The Maharashtra government Thursday signed a memorandum of understanding (MoU) with Bharat Forge Ltd (BFL) to set up a centre for advanced manufacturing at Baramati. The centre will be set up at an investment of Rs.3.5 billion ($87.2 million) on 100 acres with a forging capacity of 30,000 tonnes per year, employing over 1,200 skilled professionals.
The state-of-the-art centre will manufacture world class high-tech critical and safety components for aerospace, marine, railways, power, energy, mining and construction sectors.
Speaking on the occasion, chief minister Vilasrao Deshmukh said the BFL centre would help put Baramati - the home district of union Agriculture Minister Sharad Pawar - on the global map.
Industries Minister Ashok Chavan said with a series of dynamic measures, Maharashtra was re-establishing its premier position and the state was now a sought-after destination for investors.
BFL chairman and managing director B.N. Kalyani said the project would help strengthen Baramati’s position as a fast-growing industrial centre.
BFL is the flagship company of the $2.1 billion Kalyani Group, a global supplier of forged and machined components based in Pune. It has manufacturing facilities at four locations in India, three in Germany, two in China and one each in Sweden, Scotland and the US.
The MoU was signed Thursday afternoon by V.K. Jairath, principal secretary (industries) of Maharashtra and BFL chief Kalyani in the presence of Chief Minister Vilasrao Deshmukh, Chavan and other senior officials.
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