Himadri Speciality to invest Rs 4,800 cr to make Li-ion battery components
Himadri Speciality Chemical on Wednesday announced that it will invest Rs 4,800 crore to foray into the manufacturing of Lithium-ion battery components. According to the announcement, the investment will be over the next 5-6 years.
The plant’s total annual production capacity will be 200,000 MT either directly/ or through its subsidiaries. “This investment will be made largely from internal accruals and balance from debt,” the company said.
The company believes that the facility will enable the indigenisation of Lithium-ion battery raw materials for global and Indian electric vehicles. It is also expected to reduce the dependency on fossil fuels and the preservation of natural resources.
