Bharat Forge Limited has set to invest US$74.8 Million in South Indian state of Telangana’s booming defense and aerospace manufacturing sector.
The company is set to apply for land next week. “They will be applying for around 40 acres of land next week. In this, 10 acres will be provided at the Adibatla aerospace and precision engineer park and the rest will be allotted elsewhere," Telangana industries secretary Arvind Kumar said on Friday at the curtain-raiser event of the second edition of Defence & Aerosupply India. The event will be held between November 30 and December 2 in the city.
Hyderabad has brought over $14.9 million investments in robust defence and aerospace manufacturing ecosystem in the last one year. There were around 10 precision engineering companies that are coming up near Adibatla and the total investment has been around $29 million. Besides, Chennai-based Voith will be investing of $14 million over the next four years to shift its operation to Hyderabad, the industries secretary was quoted as saying by Times Of India today.
The three-day global Conference is expected to see participation from players such as Airbus, Boing, Sikorsky, Embraer, Thales India, Finmeccanica, Eurocopter, Dassault, UTC, Honeywell, Lockheed Martin, and the IAMF (Israeli Aerospace Manufacturing Federation), among others, the officer added.
Bharat Forge Limited is the flagship company of the $2.5-billion Kalyani Group and a global provider of safety and critical components/solutions to various industrial sectors including automotive, railways, power, construction & mining, aerospace, marine and oil & gas. Earlier this year, Bharat Forge announced it had ventured (51:49) with Israel's Rafael Advanced Defence Systems for manufacturing defense components in the nation.