Ramkrishna Forgings 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.
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.”
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.
