Wednesday, 29 February 2012

Chinese Automobile giants, FAW aggressive towards India - Joint Venture signed with Bharat Forge



The foundry wing of Chinese automobile major First Automotive Works (FAW) is interested in setting up an iron casting facility in India, preferably through the joint-venture route, to tap the growing demand from automotive sector.

According to Mr Sun Feng, President, FAW Foundry Co, the Indian automotive sector, including such segments as passenger cars, trucks and trains are witnessing a major growth.

“We plan to set up a facility for casting to tap this growth. We are also exploring the possibility of entering into a joint venture with any Indian casting company,” Mr Feng told newspersons on the sidelines of a seminar organised by the Bharat Chamber of Commerce here on Tuesday.

The company already has a joint venture with Bharat Forge Ltd, to make forged automotive components for passenger cars, commercial vehicles, railways, mining, steel and petroleum industries.

FAW Foundry plans to be present, with an eight-member delegation, at the 8th International Exhibition on Foundry Technology, Equipment and Supplies in Bangalore in the first week of March. The Chinese company is also scheduled to visit the Tata Motors facility in Pune “for technical discussions”.

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