Published On:January 7 2025
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Happy Forgings to invest ₹650 crore in heavy component manufacturing expansion.

Happy Forgings to invest ₹650 crore in heavy component manufacturing expansion.

Happy Forgings Ltd (HFL) has announced a ₹650 crore investment to set up a state-of-the-art manufacturing facility for heavy industrial components, which is poised to become Asia’s first and the second-largest facility of its kind globally. The plant will be capable of producing components weighing up to 3,000 kilograms.

The Ludhiana-based company will focus on manufacturing heavy forged and machined components, including large crankshafts for industrial and marine use, as well as axles, gears, and specialized components for key sectors like power generation, mining, wind energy, and defence.

The ₹650 crore investment will be financed through a mix of internal accruals and debt. Production is slated to commence by the end of FY2027. The new facility is expected to meet the growing demand for heavyweight components across non-automotive industrial segments.

Managing Director Ashish Garg highlighted that the move is in line with the company’s strategy to tap into markets with limited suppliers, positioning Happy Forgings to capitalize on the demand for precision-engineered, large-sized components.

Currently, Happy Forgings is one of India’s largest producers of complex, safety-critical forged components, serving a wide array of industries, including automotive OEMs, farm equipment manufacturers, off-highway vehicles, and industrial machinery.

HBL





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