Aditya Birla group owned Grasim is forming a joint venture in India with Germany-based Maschinenfabrik Reinhausen for manufacturing and selling composite hollow core insulators (CHCI) that caters to industries like the power transmission and distribution industry globally. The JV company will be called Aditya Birla Power Composites and will hold a 49% stake of MR and 51% stake of Grasim. It will be spending Rs 100 crore in setting up a facility in Halol in Gujarat over the next 3 to 5 years.