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NTPC in joint venture with Bharat Forge for casting facility
Posted by Yogesh on Friday, 20 June, 2008
MUMBAI (Thomson Financial) – India’s biggest power generation company National Thermal Power Corp. Ltd. (NTPC) said it formed a joint venture company with Bharat Forge Ltd., the world’s second-largest forging company, to set up a casting facility.
In a regulatory filing, NTPC said the joint venture — BF-NTPC Energy Systems Ltd — will manufacture castings, forgings, fittings and high-pressure piping required for power projects and other industries and balande of plant equipment for the power sector.
No financial details were provided, but NTPC said it will hold 49 percent stake in venture, while Bharat Forge will hold the remaining 51 percent.
Source CNBC
