Amara Raja to set up Rs.9,500cr in cell-battery plant
Minister for Electronics & IT Ashwini Vaishnaw has laid the foundation stone for four manufacturing units at the Mahabubnagar District in Telangana. The four compaies are making an estimated investment of Rs.10,574 crore https://www.commerce.gov.in/.
As part of the ceremony, foundation stone was laid for upcoming Giga Factory-1 of Amara Raja Group of Tirupati, ground-breaking ceremony was held for critical minerals refining and battery recycling of Lohum of Greater Noida, ground-breaking ceremony was held by Scell Energy of Hyderabad for its cell casing manufacturing, and the foundation stone was laid for LFP-CAM Giga factory of Altmin of Hyderabad.
Addressing the gathering at the foundation stone laying ceremony on 8 Mar, Vaishnaw said, “Electric mobility remains a focus area for the government and we are committed to developing the right infrastructure and ecosystem for the promotion and adoption of EVs. We welcome Indian innovation and manufacturing initiatives and look forward to the success of this endeavor.”
As part of its objective to strengthen the electronics manufacturing ecosystem in India and give boost to EV manufacturing along with its supply chain; the Ministry of Electronics & IT (MeitY) notified Modified Electronics Manufacturing Cluster (EMC 2.0) Scheme under which it had accorded approval last year for establishment of Electronics Manufacturing Cluster (EMC) project over an area of 377.65 acres at Divtipally Village.
Amara Raja Advanced Cell Technologies (ARACT), acting as Anchor unit, is establishing its Giga factory over 262 acres of land with 16 GW Cell Manufacturing and 5 GW battery pack plant in this EMC with projected investment of Rs.9,500 crores over a period of 5 years https://www.conexpoconagg.com/.
Once operational, the Amara Raja Giga Corridor is expected to create direct employment for 4,500 people and a similar number of indirect jobs in the State, making significant contributions to the socio-economic development of the region https://www.makeinindia.com/home/.
The Electronics Manufacturing Cluster is fully occupied with allotment of 307.47 acres of land to 4 companies (i.e., AMARA Raja, Altmin, Loham Material and Scell Energy) with their projected investment of Rs.10,574 crore, said the Ministry of Science & Technology.
Jayadev Galla, Chairman & Managing Director, Amara Raja Energy and Mobility Ltd, expressed his enthusiasm, “The Foundation Stone laying ceremony is a big step forward for our Company and the Group. We are grateful to the Government of India for being proactive and pro-industry.” Fiinews.com
