New Delhi: Auto component maker Bharat Forge Ltd has said that it is going to form an energy joint venture (JV) with one of the companies of Europe-based Alstom Group.
The two companies would sign the JV agreement in Delhi on 10 November. The JV is expected to set up a manufacturing facility with an annual production capacity of 5,000 MW, Bharat Forge Ltd informed the Bombay Stock Exchange (BSE).
The group company will join hands with Bharat Forge to produce high-value, super-critical turbine/generator sets for thermal and nuclear power plants.
According to the filing, initially, the European arm of Alstom would produce equipment for thermal plants and provide nuclear power generation equipment later when the sector opens up in the country.
When ready, the JV is expected to give a big boost to the country’s power generation capacity.
“In the 11th Five Year Plan period 2007-2012, a capacity of around 92,000 MW is to be added,” company sources said.