Ramkrishna Forgings Limited's board of directors has approved an investment of Rs 57.5 crore for setting up an Aluminium Forging Facility at Jamshedpur.
The project will be set up with a total installed capacity of 3,000 MT per annum and is expected to be commissioned by Q2 FY26. At the optimum capacity the project will generate additional revenue of Rs. 175 Crores per annum for the Company.
In its endeavour to get in light weighting to improve the performance, fuel efficiency and reduce environmental impact of a vehicle, the company has decided to enter into Aluminium Forging.
Naresh Jalan, Managing Director of Ramkrishna Forgings Ltd. said, "In yet another step towards accelerating the transition to sustainable transportation, we are proud to announce our upcoming Aluminum Forging Project, which will increase our footprint in the EV market in a big way.
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 further added that these developments underscore their commitment to expand their global footprint, diversifying their business and delivering sustainable growth.