Published On:December 13 2013
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Forbes Marshall-Vyncke JV sets up facility at Chakan.
Pune based boiler manufacture company Forbes Marshall in joint venture with Belgium's Vyncke has set up a new facility at Chakan to produce bio mass and other boilers. This is a 50:50 JV between Forbes Marshall and Vyncke.
It has made investment of Rs. 250 crore for the first phase and additional Rs. 100 will be made in the second phase of plant. Commenting on this, Naushad Forbes, director Forbes Marshall said, ' We have already started the production of boilers in October this year. The annual capacity of this plant is of producing 1000 boilers. There is a huge demand for bio mass boilers in domestic markets. So at least for the next five years we do not have any plan f or exports. India has highest production of bio-mass and hence demand will continue for the next 20 years.'