Bharat Forge America, Inc. plans to invest $127.3 million to build an aluminum forging plant for the manufacture automobile components in Sanford, North Carolina. The new facility in Sanford will be part of a larger manufacturing center that will bring as many as 460 jobs to the region.
“We are delighted to make our biggest overseas investment in North America, in the state of North Carolina, which offers excellent advantages and a strong talent pool,” said Amit Kalyani, Deputy Managing Director, Bharat Forge Ltd. “Importantly, this also brings us closer to our customers in North America. This investment will help us create a strong global manufacturing footprint as part of our aluminum strategy, spanning Europe, Asia, and the United States.”
Bharat Forge and its subsidiary Bharat Forge Aluminum USA, Inc. are part of the Kalyani Group of companies, headquartered in Pune, India. The Kalyani Group is a $3 billion Indian conglomerate employing 10,000 people in its global workforce and engaged in a wide range of industries. Bharat Forge is backed by more than 50 years of experience in manufacturing safety components for the global automobile industry.
The company has received direct support from the North Carolina Department of Commerce and the Economic Investment Committee, which will help to facilitate by a Job Development Investment Grant (JDIG) that authorizes the potential reimbursement to the company of up to $3,543,300, spread over 12 years. The grant is based on the positive economic growth that the new forging plant is expected to provide the state. Over the course of the term of the grant, the project will add an estimated $787.1 million to North Carolina’s economy.
“This project confirms North Carolina’s strength as one of the top destinations for foreign investment in the United States,” said Anthony M. Copeland, commerce secretary for North Carolina. “Companies representing more than 40 countries have located operations here, thanks to the many business advantages offered by our state.”
Bharat Forge America, Inc.’s site selection decision remains contingent on the final award of acceptable incentives from the local governments.