Bharat Forge Limited (BFL), the Pune based Indian multinational has announced that it will invest Rs 1,200 crore to set up an integrated auto component hub in Nellore.
At the inaugural session of the 22nd CII Partnership the chairman Baba Kalyani announced that it has signed two MoUs with the Andhra Pradesh government. While one MoU is for an integrated auto hub, the other is for a multi-modal manufacturing unit.
The company will set up auto component plant in Nellore district and the second MoU is for a defense, aerospace manufacturing park which it proposes to develop in Anantapur district.
According to Kalyani, there is not a car in the country that does not have parts manufactured by our company. AP is leveraging assets like energy, manpower and ports, so the company will invest in the manufacturing sector and set up an integrated automated facility at Nellore which can employ 3,000 odd people. Company has finalized the land for the projects and are confident enough that in the next few weeks it will start the work.