A £30 million knowledge transfer deal for Sheffield Forgemasters

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. An official launch of the trade agreement, which pledges future training provision in specialist cast and forged steel production, was marked by a visit to Sheffield from Indian Government representatives and BHEL management. The Honourable Vilasrao Deshmukh (picture, left), Minister of Heavy Industries and Public Enterprises, and B. S. Meena, Secretary, Department of Heavy Industries, were accompanied by BHEL chairman and managing director Shri B.P. Rao (picture, centre) and Consul General of India for Birmingham, C. Gururaj Rao. Dr Graham Honeyman (picture, right), chief executive at Sheffield Forgemasters, said: "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. It is all about extending our reach and benefiting from sharing our knowledge. "This is also an important business development deal which will deepen our relationship with BHEL. 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." BHEL, which boasts an order book of £4.5 billion and a turnover of £4 billion, is expected to register 30 per cent growth in the next three years.