Bharat Forge board has consented
to the proposal of raising Rs.350 crore for funding its expansion
plans. The company expects to tie up the funds in next four
months. The expansion will increase Bharat Forge's capacity by 50
per cent. Currently, the company has a capacity to manufacture
1.2 lakh tpa of forgings and 4 lakh crankshafts per annum.
The company is also setting up a
testing and validation centre, likely to be operational by June
2004. The board has also approved acquisition of Carl Dan
Peddinghaus GmbH & Co of Germany.