Samko-SRAM&MRAM aim to worldwide manufacturing set up
Samko Renewable Energy Limited, a subsidiary of Samko Holdings UK, and SRAM & MRAM Projects Limited, a subsidiary of the SRAM & MRAM Group of India, have signed a landmark Joint Venture Association Agreement (JVAA) to establish Samko SRAM & MRAM BESS Limited jointly for smart projects in Tamil Nadu and the United Kingdom.
“This joint venture company will lead the rollout of Nikola Tesla’s global network of an integrated manufacturing township to build a Smart city with GIGA Factories, Towers, Commercial Malls, Coffee Shops, and Resorts, beginning in Tamil Nadu, India, and the United Kingdom,” said the new partners in a release on 28 Nov.
The JV will serve as the strategic implementation vehicle for the “Nikola Tesla Smart City Project” — a multi-billion-dollar initiative that envisions advanced Gigafactory-scale townships in Tamil Nadu, India, and the United Kingdom. Each facility, covering a minimum of 100 acres and built over 18 months, will integrate next-generation automation, renewable-energy systems, and circular-economy production models.
SRAM & MRAM Group shall bring in technological know-how and tie-ups, including offtake agreements with Tesla Group and other companies. It shall also help with arrangements from the respective governments for grants and credit facilities. At the same time, Samko Renewable Energy Limited will lead financing coordination, land rights, operational execution, and working-capital management.
Dr Sailesh L. Hiranandani, Chairman of SRAM & MRAM Group, stated, “We are thrilled to partner with Samko Group and TESLA Group on this groundbreaking initiative. Our expertise in technology, healthcare, and global operations will catalyze innovation in renewable energy and biotechnology, creating jobs, advancing technology, and delivering economic benefits across nations.”
Nanda Bhagi, President of TESLA Group Global, mentions the need for symbiotic associations with like-minded partners to propel the Group’s global business initiatives. He hopes that the association is not just limited to the Energy storage division but shall encompass all the worldwide manufacturing and energy storage facilities across various locations with immediate focus on Tamil Nadu and the United kingdom and shall concentrate on Nikola Tesla Smart city having GIGA Factories, Towers, Commercial Malls, Coffee Shops and Resorts and help build an integrated township that shall herald the beginning of a new global village community that shall be self-sufficient in all respects.
Sampath Kumar Mallaya, a renowned businessman in the renewable energy sector and the hospitality segment and an accomplished entrepreneur, investor, and business strategist with a diverse and expansive global business portfolio spanning hospitality, flagship restaurants, leisure, petrochemicals, industrial asset management, and oil & gas has together with SRAM, finalised the locations in the United Kingdom and Tamil Nadu for rolling out NIKOLA TESLA India’s first and the largest integrated smart city with a giga factory.
Vaidyanathan, CEO, Samko Holdings, has been instrumental in setting up the entire tech stack for Samko, including their foray into petrochemicals. He has been the bridge between SRAM and SAMKO, establishing a very symbiotic relationship with SRAM. Fiinews.com
