Chennai, Feb 8 (UNI) Bharat Forge Ltd (BFL), the flagship company of the 2.1 billion US Dollar Kalyani Group and a leading global supplier of forging and machined components today signed a Memorandum of Understanding (MOU) with NTPC Ltd to set up a Joint Venture (JV) for its foray into the capital goods sector.
The JV was set to be incorporated as a private limited company with Bharat Forge holding a majority stake, a company release here said.
The JV would initially be engaged in manufacturing forgings, castings, casings, fittings and high pressure pipings required for power and other industries and Balance of Plant (BOP) equipment for the power sector.
The company would also manufacture other power plant equipments and machinery in due course.
The joint venture would invest in manufacturing large forgings and castings for high value, critical components such as rotor shafts, components for turbo generators and other capital goods, which currently constitute strategic bottlenecks from a national capacity building point of view causing major slow down in execution.
These components require an extremely high degree of metallurgical technology and process know-how, it claimed.
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