Bharat Forge gets EPC contract for 450 MW power project
India's largest forgings maker Bharat Forge Ltd has received a contract to design and commision a 450 MW independent power project, it said in a statement late on Sunday.
By PTI |
MUMBAI: India's largest forgings maker Bharat Forge Ltd has received a contract to design and commision a 450 MW independent power project, it said in a statement late on Sunday.
The EPC (engineering, procurement and construction) project would be executed by a wholly-owned subsidiary of the firm, it said in the statement. Bharat Forge had in April raised 6.26 billion rupees through the sale of shares, warrants and debt to expand manufacturing capabilities in its non-automotive business. Bharat Forge gets around 80 percent of its sales from the automotive business now, but aims to raise its non-automotive share to 40 percent by FY12.
It has a joint venture pact with France's nuclear power major Areva to produce heavy forgings for the nuclear sector. Bharat Forge shares were up 1.73 percent at 265.2 rupees in a firm Mumbai market.
The EPC (engineering, procurement and construction) project would be executed by a wholly-owned subsidiary of the firm, it said in the statement. Bharat Forge had in April raised 6.26 billion rupees through the sale of shares, warrants and debt to expand manufacturing capabilities in its non-automotive business. Bharat Forge gets around 80 percent of its sales from the automotive business now, but aims to raise its non-automotive share to 40 percent by FY12.
It has a joint venture pact with France's nuclear power major Areva to produce heavy forgings for the nuclear sector. Bharat Forge shares were up 1.73 percent at 265.2 rupees in a firm Mumbai market.
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