Auto component maker Bharat Forge has entered into an agreement with Areva to build a manufacturing facility for heavy forgings in the country.
Bharat Forge and France-based nuclear Areva have signed a memorandum of understanding to set up a joint venture to build a manufacturing facility for heavy forgings in India, the company said in a filing to the Bombay Stock Exchange.
The companies are yet to finalise a place to set up the new facility. The plant is expected to be operational by 2012.
Heavy forgings manufactured by the JV would meet indigenous requirements of the power generation sector, including manufacture of turbines, generator rotators, steel plant rolls and demand of nuclear power plants in the country.
Shares of Bharat Forge were trading at Rs 80.95, up 1.39 per cent on the BSE.