Ramkrishna Forgings Limited has announced board approval for a significant investment in an Aluminium Forging Facility at Jamshedpur. The project, which involves an investment of INR 57.5 crore, is primarily aimed at catering to the growing electric vehicle (EV) market. This development marks a strategic move by the company to enhance its offerings in the light-weighting segment, which is critical for improving vehicle performance, fuel efficiency, and reducing environmental impact.
Once the facility reaches its optimum capacity, it is projected to generate additional revenue of INR 175 crore annually for the company. This investment aligns with Ramkrishna Forgings’ broader strategy to expand its global footprint, diversify its business portfolio, and contribute to the transition towards sustainable transportation.
Ramkrishna Forgings’ decision to enter the aluminium forging market reflects a growing emphasis on innovative solutions tailored to the evolving needs of the automotive industry in the EV sector. Aluminium forging is increasingly being recognised for its role in reducing vehicle weight, thereby enhancing fuel efficiency and lowering emissions. By establishing this new facility, the company aims to position itself as a key player in the supply chain for electric vehicles, a market that is expected to see substantial growth in the coming years.