India’s Ramkrishna Forgings Ltd has announced its strategic entry into the aluminium forging sector, with plans to establish its first facility in Jamshedpur, Jharkhand. The company's board has approved an investment of INR 57.5 crore for the new facility, which is set to focus primarily on the electric vehicle (EV) market. The plant will have an annual production capacity of 3,000 tonnes and is expected to be operational by the second quarter of the 2025-26 fiscal year.
Today, Ramkrishna Forgings is a global force in the metal forming industry. It is known for supplying world-class forged, machined, and fabricated products to diverse sectors, such as automotive, railways, farm equipment, earthmoving, mining and construction, oil and gas, power, and general engineering.
This move aligns with Ramkrishna Forgings' commitment to vehicle lightweighting, a crucial factor in enhancing performance, improving fuel efficiency, and reducing the environmental impact of modern vehicles. According to a senior official, once the facility reaches full capacity, it is projected to contribute an additional INR 175 crore to the company's annual revenue.
Naresh Jalan, Managing Director of Ramkrishna Forgings, said, "The upcoming aluminium forging project will significantly expand our footprint in the EV market. By focusing on engineering and technology-enabled automotive solutions, we are committed to developing pioneering technologies that are sustainable and align with evolving market aspirations."
"These initiatives underscore our commitment to global expansion, business diversification and sustainable growth."
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