Bharat Forge announces a 1,200 crore automotive components hub set up in Andhra
Bharat Forge, the leading forging major in India announced its plans to set up a integrated manufacturing hub for automotive components in the Nellore region of Andhra Pradesh. It was announced that Bharat Forge will be looking to invest close to Rs. 1,200 crore for the unit set up.
Speaking at the inauguration of CII (Confederation Of Indian Industry) Partnership Summit, Baba Lakyani, Chairman at Bharat Forge Said That, “Bharat Forge is planning to set up a large integrated automotive component manufacturing hub in Nellore, Andhra Pradesh with what is believed to be an investment of Rs. 1,200 Crore. The new facility will provide employment opportunities to around 3,000 people in a direct manner & almost a similar number of jobs will be generated indirectly.” Kalyani added that the company is hoping to create a substantial ancillary economic structure in the state too.
During his announcement Kalyani also added that, “The Company is working on another MOU with the state government for the setup of a Multi-Model facility for the industrial components, defence & aerospace components & a supply chain for the same. The plans are to locate the said facilities in the Anantpur district of the state.” Kalyani Added that Bharat Forge has already finalized the land & has started work for the set up.