Visakhapatnam: Leading forging major Bharat Forge today announced plans to set up an integrated auto component hub in Nellore in Andhra Pradesh and said it will invest Rs 1,200 crore and create 3,000 jobs.
Announcing the plans, Bharat Forge Chairman Baba Kalyani said here at the Andhra Partnership Summit that an MoU has been signed with the state government to set up a multi-modal facility in the state.
He said “Bharat Forge plans to set up an integrated auto components hub in Nellore”.
“The investment planned is Rs 1,200 crore and about 3,000 people would get employment,” Kalyani said while adding that land possession would happen soon for the project.
Pune-based Bharat Forge is the world’s largest forging company with manufacturing facilities spread across India, Germany, Sweden and France. It manufactures a wide range of components for the automotive and non-automotive sectors.
It is part of USD 2.5 billion conglomerate Kalyani Group which has about 10,000-strong global work force.