Business Update6 Dec 2023, 12:15 pm
Himadri Speciality Chemical Ltd to set up manufacturing facility for Lithium-ion Battery components
AI Summary
The company has approved an estimated investment of Rs. 4800 Crores in phases over a period of 5 to 6 years to set up a manufacturing facility for the production of Lithium-ion Battery (LiB) components with a total annual production capacity of 200,000 MT either directly and/or through its subsidiaries. The investment will be made largely from internal accruals and balance from debt.,
Key Highlights
- Setting up of manufacturing facility for Lithium-ion Battery components
- Estimated investment of Rs. 4800 Crores in phases over 5-6 years
- Total annual production capacity of 200,000 MT
- Indigenization of LIB raw materials for global and Indian markets
- Expected benefits include promoting sustainability and reducing dependency on fossil fuels