Mumbai, Dec. 23 -- The proposed forging unit would result in forward integration of Vardhman Special Steels' existing steelmaking operations.

This expansion would enable the company to offer a comprehensive, one stop solution automotive OEMs, spanning steel production through to forged components.

The chain investment is aimed at strengthening the company's position within the automotive supply by expanding its value-added product portfolio and increasing participation across critical automotive components.

Sachit Jain, chairman & managing director, Vardhman Special Steels, said: "Over the years, we have consistently evaluated venturing into forgings with our partner Aichi Steel Corporation who is having the largest forging capacity in...