Bharat Forge Ltd announced that it will
set up an integrated auto component park in Andhra Pradesh with an
investment of Rs.1,200 crores. The Pune-based multinational has signed
two MoUs with the state government, announced chairman Baba Kalyani at
the inaugural session of the 22nd CII Partnership Summit.
The
company is going to set up an Auto component plant in Nellore district.
The second MoU has proposed to develop Aerospace manufacturing park in
Anantapur district.
Regarding this, the
source said, "We plan to set up a large Automotive component
manufacturing hub at Nellore district. The investments will be 1200
Crores and this will immediately employ 3000 odd people directly and 200
people indirectly. This will created a suitable economic structure.
We
are also planning for a multi-model manufacturing facility for
industrial components. This will also be located at Ananthapur
district." Bharat Forge is a part of $2.5 billion Kalyani group. They
are world's largest forging company with lots of manufacturing
facilities.