Bharat Forge to invest Rs 1,200 cr to set up auto component hub in Nellore

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Visakhapatnam | Updated: January 11, 2016 10:39:32 AM

Bharat Forge will invest Rs 1,200 crore to set up an integrated auto component hub in Nellore, Andhra Pradesh, which will create 3,000 jobs.

bharat-forge-l-reuters660Bharat Forge has signed two memoranda of understanding with the Andhra Pradesh government for expanding its business in the state. (Photo: Reuters)

Bharat Forge on Sunday announced plans to set up an integrated auto component hub in Nellore, Andhra Pradesh. The company will invest Rs 1,200 crore in the hub and create 3,000 jobs.

Bharat Forge has signed two memoranda of understanding with the Andhra Pradesh government for expanding its business in the state. While one MoU is for an integrated auto hub, the other is for a multi-modal manufacturing unit.

“We have decided to set up an integrated automated parts facility along with a multi-modal manufacturing facility at two separate locations in Andhra Pradesh,”  Baba Kalyani, CMD, Bharat Forge, said during the inaugural session of CII partnership summit.

“There is not a car in the country that does not have parts manufactured by our company. AP is leveraging assets like energy, manpower and ports. We will invest in the manufacturing sector and set up an integrated automated parts facility investing R1,200 crore in the automotive parts facility at Nellore and it will employ about 3,000-odd people,” Kalyani said.

The company would also set up a multi-modal manufacturing facility for industrial, defence and aerospace spare parts in Anantapur. “The land has been finalised and in the next few weeks we will get it,” Kalyani said. Investment estimates for this plant were not announced.

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