World’s largest forgings company Bharat Forge , India is making big plans for its power equipment business by investing nearly US$425million in a joint venture with India’s largest power company NTPC. And its joint with French energy giant Areva will also begin construction for nuclear forgings plant this month, say company sources.
Bharat Forge is currently looking for technology partners for manufacturing high pressure pipes, pumps and valves, which are used in thermal power plants. The company has already secured 100 acres of land near Mumbai to set up a plant with a capacity of 60000 to 70000 ton per annum. Under the NTPC joint venture the company may have three to four more joint ventures with those technology partners.
Bharat Forge is also fast-tracking its plans with Areva. In the second quarter of this financial year, the company registered an operating margin of 17.5 per cent. There is no doubt that India will continue investing heavily in physical infrastructure over the next two decades. Primarily in power, transportation, construction & mining.
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