Proposal for Alstom-BharatForge JV Cleared

Oct 25, 2010, 12:13 IST

The Indian Union Cabinet on 21 Jan 2010 approved the proposal of Alstom of France to set up a joint venture with Bharat Forge to make power equipment involving foreign direct investment inflow of Rs. 490 crore. The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh considered the proposal under the recommendations of Foreign Investment Promotion Board.

The Indian Union Cabinet on 21 Jan 2010 approved the proposal of Alstom of France to set up a joint venture with Bharat Forge to make power equipment involving foreign direct investment inflow of Rs. 490 crore. The Cabinet Committee on Economic Affairs headed by Prime Minister Manmohan Singh considered the proposal under the recommendations of Foreign Investment Promotion Board. Alstom Power Holdings of France, Alstom Technology of Switzerland and Alstom France had proposed to establish joint venture companies with Bharat Forge or its affiliate companies in India and invest 70.5 million euro to manufacture state-of-the-art super-critical and sub-critical power plant equipment.

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