Forgemasters and BHEL sign knowledge transfer deal
A £30m knowledge transfer package between Sheffield Forgemasters and India’s largest power equipment maker, Bharat Heavy Electricals Limited (BHEL), has been agreed.
The 10-year partnership to develop power generation forgings on the sub-continent will see state-run BHEL buy specialist technology and engineering knowledge from the Sheffield-based manufacturer.
The technology transfer will enable Forgemasters to establish a foothold in central Asia, helping to protect its future markets in the sub-continent and serving India’s domestic market for turbine and power generation products.
Graham Honeyman, chief executive at Sheffield Forgemasters, said: ‘This arrangement with our colleagues from BHEL is a great step forward and reinforces an already strong trading partnership between Forgemasters and India.
‘The deal will see us help build new steel-making and forging facilities to manufacture forgings for power generation projects servicing India’s domestic market. The Indian power generation market provides a unique opening for us.
‘Funds will be generated from a technology transfer fee and also royalties of sales of these new products, which will be ploughed back into Forgemasters’ ongoing research-and-development programme here in the UK.’
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