NTPC, India’s largest power company, and Bharat Forge, the flagship company of the $2.4 billion Kalyani Group, are seeking a third partner for their joint venture to manufacture power equipment. The two companies formed a joint venture, BFL-NTPC Energy Systems Ltd., in June 2008 to establish a manufacturing facility for castings, forgings, fittings and other power-plant equipment in India. BFL-NTPC is looking for a technology provider as a third partner in their joint venture.
BF-NTPC Energy Systems would serve sectors like oil and gas, steel and mining in addition to power. Bharat Forge holds 51% in the joint venture, and NTPC holds the remaining 49%. The facility is being set up in Maharashtra.