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This story is from May 3, 2007
Bharat Forge puts plans on hold
The public unrest in West Bengal over SEZ, has put Baba Kalyani, chairman MD of Bharat Forge on the backfoot.
As a result, the fate of company’s proposed plant in West Bengal is hanging in balance. “We have put the West Bengal project on hold for now,” Kalyani told ToI.
He said his company is neither equipped nor is inclined to cope with such controversies and agitations.
However, he did not rule out the possibility of going ahead with the project once the protests calm down and there is clarity.
Kalani had met West Bengal CM Budhadeb Dasgupta last year with an intention to set up a manufacturing base in/near Kolkata. It made good sense to the company as it needed to be close to a good port. Also, most of the investments in capital goods were happening in the Eastern part of the country.
Meanwhile, Bharat Forge has laid foundation stone for a new plant at Baramati in Maharashtra. It is investing Rs 350 crore in the unit, financed from internal accruals.
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