Bengaluru: Bharat Forge Ltd, flagship company of the $2.4 billion Kalyani Group, will set up an integrated automated parts facility along with a multi-modal manufacturing facility at two separate locations in Andhra Pradesh. The company will invest 1,200 crore towards the automated parts facility.

“There is not a car in the country that does not have our company-made part. 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 1,200 crore in the automotive parts facility at Nellore and it will employ 3,000-odd people directly," said Baba Kalyani, chairman and managing director of Bharat Forge.

The announcement was made on Sunday at the CII Partnership summit where Andhra Pradesh is a host state.

The company will also set up a multimodal manufacturing facility for industrial, defence and aerospace spare parts at Anantapur. “The land has been finalized and in the next few weeks we will get it," Kalyani said. The investment estimates for this plant were not announced.

In December, Bharat Forge, the Kalyani Group’s flagship firm, said it is focusing on high execution including velocity in responding to opportunities and engagement with customers.

In a note to analysts, the company said it has selected four sectors—mining, power, railways, and marine and defence—under the Make in India initiative and created a dedicated cross-functional team to identify opportunities in these areas.

In the note, Bharat Forge had said by 2018 the company will be net debt free and double revenue to 7,000 crore. It had a total debt of 2,546.42 crore as on 31 March.

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