Bharat Forge to invest INR 1,000 cr in Tamil Nadu to enhance production activities

Source : PTI | New Delhi: Auto components major Bharat Forge on Tuesday said it has inked an MoU with the Tamil Nadu government to invest INR 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 NaduGlobal 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 % up at INR 1,271.10 apiece on BSE.