Bharat Forge will invest Rs 1,000 crore in Tamil Nadu over five years to expand its manufacturing operations. The investment is part of the Tamil Nadu Global Investors Meet 2024.
Photograph: PTI Photo
New Delhi, Jan 9 (PTI) Auto components major Bharat Forge on Tuesday said it has inked an MoU with the Tamil Nadu government to invest Rs 1,000 crore over a period of five years to expand manufacturing footprint in the state.
The company has entered into a memorandum of understanding (MoU) with Guidance, the nodal agency of the state government as part of the Tamil Nadu Global Investors Meet 2024, it said in a regulatory filing.
The MoU is non binding and at present does not have a material impact on operations of the company, it added.
Bharat Forge shares were trading 1.09 per cent up at Rs 1,271.10 apiece on BSE.
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