Power Minister Sushilkumar Shinde on Sunday laid the foundation stone of a Rs 350 crore manufacturing facility, being set up jointly by NTPC and Bharat Forge Ltd, for power equipment.
“The growing demand for power in the country can only be met by ramping up indigenous manufacturing capacities quickly and by infusing superior technology in generation, transmission and distribution,” Mr. Shinde said.
The joint venture, BF-NTPC Energy Systems Ltd, aims at primarily serving power sector (thermal, hydro and nuclear) with its product range having wider application across other sectors like pertrochemicals, oil and gas, steel and mining.
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The facility to be set up at a cost of Rs 350 crore and likely to create over 1,000 jobs would focus on complete package solution for power and other industries.
“This project would generate more than a thousand jobs specially to the locals,” Mr. Shinde said, adding the government is committed to supply power to all the villages by 2012.
Currently, India faces considerable supply constraints in respect of main plant equipment and other critical equipment and has significant dependence on overseas sources.
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“Through BFNESL, we are committed to address these constraints by manufacturing and supplying technology-driven products and systems. This will reduce India’s dependence on imports and ensure timely and cost competitive availability of these products indigenously,” B.N. Kalyani, Chairman and Managing Director, Bharat Forge said.