Bharat Forge-Alstom JV to start production in 2013

India’s Bharat Forge , the world’s second largest forgings maker, expects its joint venture (JV) with France’s Alstom to start production in 2013, as it continues to increase its revenue from the non-automotive segment. The venture, which will manufacture super critical and sub-critical power plant equipment in India, and will have a capacity to produce 5,000 MW annually. The plant will be set up at Mundra in Gujarat.  The company has earmarked a capital expenditure of Rs3-Rs3.5 billion (US$65.60-US$76.54 million) over the next two years. The bulk would go into streamlining and upgrading operations in its automotive business, said Executive Director Amit Kalyani. He did not disclose the investments Bharat Forge would make in its various joint ventures. The company has joint ventures with state-run National Thermal Power Corp. (NTPC) for power equipment and with KPIT Cummins for manufacture of a plug-in parallel hybrid solution for automotive companies to bring about fuel efficiency. (January 25, 2011)