India’s Ramkrishna Forgings to set up aluminum forging facility to serve EV market
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Update time : 2024-09-03 16:26:57
After obtaining board approval, Ramkrishna Forgings, a supplier of rolled, forged, and machined products based in Kolkata, India, is going to build an aluminum forging facility in Jamshedpur, with scheduled commissioning by the second quarter of the fiscal year 2026.
The investment, with a total cost of Rs 57.5 crore, was aimed to meet the demand from the electric vehicle (EV) market. With an installed capacity of 3,000 tons per year, the project is expected to bring extra revenue of Rs 175 crore for Ramkrishna Forgings at the optimal production capacity.
Naresh Jalan, the company’s Managing Director, said that the project is a further step to accelerate the transition to sustainable transportation, and it will expand the company’s footprint in the EV market.
