Forbes Marshall, Pune-based boiler manufacturing company, in a 50:50 JV with Belgium-based Vyncke, has set up a new facility at Chakan in Pune, Maharashtra.
The project has been developed in various phases. The JV company has invested Rs 250 crore in Phase-I and will invest Rs 100 crore in Phase-II. The unit will produce bio mass and other boilers.
It has already commenced production work in October 2013. The annual production capacity of this plant is 1,000 boilers. Due to a huge demand for bio mass boilers in domestic markets, the company doesn't have any export plans for the next five years.