Mundra Port and Special Economic Zone Ltd said on Friday a joint venture between Alstom and Bharat Forge will set up an equipment manufacturing facility at its special economic zone.

The 24 billion rupee project ($520 million) would have capacity to make 5,000 megawatt high-efficiency power generation equipment, Mundra Port said in a statement. There are tax benefits for firms setting up in a special economic zone.

The joint venture would use Mundra port to move equipment made in the facility, Mundra Port said.

($1=46.3 rupees)

(Reporting by Tamajit Pain; Editing by John Mair)

India