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14th March 2010

Bharat Forge and NTPC begin construction of their joint venture manufacturing plant at Solapur, Maharashtra

BF - NTPC Energy Systems L imited (BFNESL) , a joint venture between Bharat Forge Ltd , a global leader in manufacturing and metal forming and NTPC Ltd, India’s largest power generation company today made a landmark beginning with the laying of the foundation stone of their joint venture manufacturing facility at Solapur in South - Eastern Maharashtra. The JV set up by the two organizations aims at primarily serving power sector (thermal, hydro and nuclear, etc.) with its technology - intensive product range having wider application across other sectors like oil and gas, petrochemicals, steel and mining . Currently, India faces considerable supply constraints and has significant dependence on overseas sources for such advanced technology products . These will include products like advanced class pumps, high pressure piping, castings and forgings and other critical equipment involving hi - end engineering and state - of - the - art manufacturing processes.

Shri Sushilkumar Shinde, Hon’ble Union Minister of Power laid the foundation stone in an impressive functioning presided over by Shri Bharatsinh Solanki, Hon’ble Union Minister of State for Power . Shri HS Brahma, Secretary, Ministry of Power also graced the occasion besides other senior functionaries of the Ministry of Power, State Government, NTPC and Bharat Forge.

While laying the foundation stone , Hon’ble Power Minister S hri Shinde stated - “ 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 . It is heartening to see two world - class Indian companies joining hands to address challenges in India’s march towards Power for All”.

Shri HS Brahma, Secretary Power, Government of India called the event a major milestone in the growth of India’s power equipment manufacturing capability.

Speaking on the occasion, Mr B N Kalyani, Chairman and Managing Director, Bharat Forge stated, “India faces severe supply constraints in respect of main plant equipment and other critical Plant equipment for new class of higher capacity , higher efficiency Power Plants in India . These constraints have started hurting India’s aggressive growth plans. Through BFNESL, we are committed to address these constraints by manufacturing and supplying state - of - the - art technology - driven products and systems . This will reduce India’s dependence on imports and ensure timely and cost competitive availability of these products indigenously.”

Mr R. S. Sharma, Chairman and Managing Director, NTPC Ltd stated, “While Bharat Forge’s strengths in metal forming, manufacturing, engineering and marketing shall be extensively utilized, NTPC’s world - class experience in project management and operations shall be made available to the JV to quickly meet market challenges”.

Envisaged over a land mass of 100 acres, this state - of - the - art facility will include world - class manufacturing, fabrication, assembly and testing facilities for the product lines and also field services. Supported by a strong design & engineering centre, the plant proposes to manufacture products to support thermal, hydro and nuclear power sectors besides oil and gas , petrochemicals, steel and mining industries in the proposed manufacturing facility. Its main focus would be to offer a complete package solution for power and other industries in India and beyond.