Bharat Forge to invest $56 million to set up new plant in US.

Auto components maker and the world’s largest forging company Bharat Forge recently announced an investment of $56 million (Rs. 399 crore) to set up a new forging and machining facility in the North Carolina, US.

The investment will be made through Bharat Forge America, Inc., which is a wholly owned subsidiary of the Kalyani Group company. The investment is backed by orders already secured from manufacturers in the country, Bharat Forge said in an exchange filing.

The company plans to make a similar investment in the future to increase the capacity of the plant as demand ramps up.

The investment is part of the company’s strategy to increase focus on lightweight materials. “It will help us to create a strong global manufacturing footprint as part of our Aluminium strategy, spanning Europe, Asia and the United States,” Bharat Forge informed in a statement.

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