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Private Sector | Not Classified - india | PID: 202098
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Himadri Speciality Chemical will invest Rs 4,800 crore to foray into the manufacturing of Lithium-ion battery components. The outlay will be spread over the next five to six years
The plant's total annual production capacity will be 200,000 MT either directly or through its subsidiaries. It will be financed from internal accruals and balance from debt. The facility will enable the indigenisation of Lithium-ion battery raw materials for global and Indian electric vehicles (EVs). It is also expected to reduce the dependency on fossil fuels
Besides this, Himadri Speciality Chemical has completed the acquisition of a 100 percent stake in Himadri Clean Energy (HCEL), making it a wholly-owned subsidiary of the company. Further, HCEL has proposed acquiring a 100 percent stake in Himadri Future Material Technology. The company's Board has also approved the proposed acquisition, which is expected to be completed within 60 days
With this, the company will set up the manufacturing facility for cathode active material
| Updated on: 07 - Dec - 2023
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