City-based Ramkrishna Forgings said on Monday its board has approved the setting up of an aluminium forging facility at Jamshedpur at an investment of ₹57.5 crore to cater to the EV market.
“The project will be set up with a total installed capacity of 3000 mt per annum and is expected to be commissioned by Q2FY26. At the optimum capacity the project will generate additional revenue of ₹175 crore per annum for the company,” Ramkrishna Forgings said in a statement.
“In yet another step towards accelerating the transition to sustainable transportation, we are proud to announce our upcoming aluminium forging project, which will increase our footprint in the EV market in a big way,” said Naresh Jalan, managing director, Ramkrishna Forgings.
“With a focus on engineering and tech enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused to develop pioneering technologies that are sustainable as well as suited to evolving aspirations of the market and the customers,” he said.
The company has manufacturing facilities in Jamshedpur along with offices in the US, Mexico and Turkey.
The company also said that its board has approved the divestment of a 100 per cent stake in wholly owned subsidiary Globe All India Services Limited to Yatra Online for ₹128 crore, net of debt.
