Himadri Specialty Chemical Ltd on Dec 6 said it will invest Rs 4.8 Crore over the next five to six years to set up a manufacturing facility for lithium-ion battery components. In a legal statement, the company said its board of directors on Dec 5 approved the establishment of a manufacturing facility for the production of lithium-ion battery (LiB) units with a total production capacity of 200,000 tons per year. The cost of the project is Rs 4,800 crore in installments over 5-6 years directly and/or through subsidiaries."
Most investments are internal savings and credit balance in addition.
The company plans to enhance stakeholder value by participating in the Sunrise segment, which has strong growth potential.
"Indigenization of LIB raw materials for global and India's electric vehicle (EV) & energy storage system (ESS)," the company said while talking about the benefits of setting up this factory.
It seeks to promote sustainability by reducing dependency on fossil fuels and preservation of natural resources. Kolkata-based Himadri Speciality Chemical manufactures coal tar pitch, carbon black, battery materials, specialty oil and refined naphthalene, among others. Many industries use these products.
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