Investment6 Jan 2025, 05:08 pm
Happy Forgings to Invest ~Rs. 650 Crs for Advanced Forging Capabilities in Heavyweight Components
AI Summary
Happy Forgings Limited (HFL) has approved a capital investment of up to Rs. 650 crores to establish advanced forging capabilities for heavyweight forged and machined components. This new facility will be the first of its kind in Asia and the second largest globally, producing components up to 3,000 kilograms for various industries including power generation, marine, mining, high-horsepower farm equipment, material handling equipment and cranes, wind energy, oil & gas, aerospace, defense, and nuclear. The investment will be spread over the next 2-3 years, primarily financed through internal accruals and partially through debt, with production anticipated to commence by the end of FY2027.
Key Highlights
- HFL to invest ~Rs. 650 crores for advanced forging capabilities in heavyweight components
- New facility to be the first of its kind in Asia and the second largest globally
- Components to serve a range of non-automotive industries including power generation, marine, mining, high-horsepower farm equipment, material handling equipment and cranes, wind energy, oil & gas and specialized segments like aerospace, defense and nuclear
- Investment to be spread over the next 2-3 years, primarily financed through internal accruals and partially through debt
- Production anticipated to commence by the end of FY2027