Bharat Forge Ltd,the worlds largest manufacturer of automotive forgings and French firm AREVA,a global player in the nuclear power business,have signed a Memorandum of Understanding (MoU) to set up a Joint Venture (JV) to build a manufacturing facility for heavy forgings in India.
Manufacture of non-automotive forgings,including for power sector applications,is a major growth area for Bharat Forge. In order to meet the strong energy needs in India and given the exciting opportunities emerging in the countrys nuclear power sector,Bharat Forge and AREVA are partnering in the JV,said a statement issued by the company.
Areva is engaged in design,manufacture and supply of nuclear power plants,components and fuel to customers all over the world.
Availability of heavy forgings is a major constraint for global manufacturers of equipment in the energy sector. The JV would secure supply of heavy forgings,especially stainless steel forgings to the customers, the statement said.
Heavy forgings manufactured by the JV would primarily meet indigenous requirements of power generation sector,including manufacture of turbines,generator rotors,steel plant rolls etc. and also of new nuclear power plants in the country,the release said.
Bharat Forge and AREVA are presently evaluating various locations in the Country to set up the new facility. The plant is expected to become operational by 2012. The JV will have a state-of-the-art 14,000 Ton open die forging press with associated equipment and an integrated steel making facility.