KOLKATA: Ramkrishna Forgings Limited (“Company”), one of the leading suppliers of rolled, forged, and machined products is pleased to announce a significant step towards fulfilling its commitment of achieving carbon neutrality through an investment in renewable energy. The company plans to install a 7.82 MW capacity roof-top solar project at its existing forging plants in Sariekella and Dugni at Jamshedpur.
Upon completion of the project, the power generated will be used for its captive consumption, reducing the company's dependence on grid power. The project will help the company to achieve its environmental, social, and governance (ESG) vision and contribute to the larger goal of achieving a sustainable future.
The total cost of the project is estimated to be approximately Rs. 35 cr, which will be financed by a mix of debt and equity. The investment in this renewable energy project reflects Ramkrishna Forgings' commitment to responsible business practices and its dedication to reducing its carbon footprint.
Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said, “We are delighted to announce our investment in this renewable energy project, which demonstrates our commitment to sustainability and ESG principles. We believe that this project will help us achieve our goal of carbon neutrality and marks a significant milestone towards creating a cleaner, greener, and more sustainable future.”
About Ramkrishna Forgings Limited
Ramkrishna Forgings was incorporated in 1981 with the objective to manufacture forged products. The Annualized installed capacity after commissioning of Hollow Spindle Line, a new 7000 Ton Press Line, a 2000 Ton warm/hot Forming Press and a fabrication facility is 187,100 MT. headquartered at Kolkata, the company has state-of-the-art manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, Istanbul in Turkey having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico and Westerloo in Belgium. Over the years, the company increased its forging and die-making capacities and added machining and heat treatment facilities, including isothermal annealing, which enabled it to undertake manufacturing of components for OEMs and Tier 1 companies, The Company is certified in terms of TS 16949, OSHAS 18001 and ISO 14001 and is a manufacturer & supplier of closed die forgings of carbon and alloy steel, micro alloy steel and stainless steel forgings which can be supplied in As Forged + Heat Treated + Machined and Fully assembled condition as per the customer's requirement.
The Company is suppliers to various sectors like Automotive, Railways, Farm Equipment, Bearings, Oil & Gas, Power and Construction, Earth Moving & Mining, both in India & overseas markets. The Company is a critical safety item supplier for undercarriage, Bogie & Shell parts for railway passenger coaches and locomotives. It is a preferred supplier to OEMs like TATA Motors, Ashok Leyland, VE Commercial and Daimler in India and to Volvo, Mack Trucks, Iveco, DAF, Scania, MAN, UD Trucks and Ford otosan in the overseas markets. It supplies globally to Tier 1 axle manufacturers like Dana, Meritor and American Axles.
Safe Harbour
THIS INVESTOR RELEASE (IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF RAMKRISHNA FORGINGS LIMITED (THE “COMPANY”) OR ITS SUBSIDIARIES (TOGETHER WITH THE COMPANY, THE “GROUP’)
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