Enhancing the business with an aim of expansion, Amara Raja Batteries Limited signed a contract for a project worth Rs. 9,500 crores with the Telangana Government.
Amara Raja Batteries Limited, one of India’s leading industrial and automotive battery majors, announced plans to invest Rs.9,500 crores in the Mahabubnagar district in the next 10 years.
According to the inked pact with the Telangana Rashtra Samithi (TRS) Government on the 2nd of December, Friday, the company would set up a Lithium Cell Gigafactory with an ultimate capacity up to 16 Giga Watt hours (GWh) and a Battery Pack Assembly Unit up to 5 GWh.
According to sources, the unit would come up at Divitipalli, creating employment for about 4,500 people in a phased manner. The Tirupati based Amara Raja Batteries would have the huge investment in Telangana with the aim of expansion in business, making Telangana one of the few in the world to host a lithium cell Gigafactory.
Mr. K.T. Rama Rao, the Information Technology and Urban Development Minister of Telangana, said, “Yet another historic win for Telangana, Amara Raja to set up India’s largest Lithium Ion Cell Manufacturing facility till date with an investment of Rs.9,500 crore, further reinforcing Telangana’s position as an ideal destination for EV and Advanced Cell Chemistry (ACC) Manufacturing.”
During the Memorandum of Understanding (MoU) signing event, Mr. K.T. Rama Rao said, “We have been making several efforts on the Electric Vehicles and Energy Storage Solutions front. Amara Raja’s mammoth investment is the biggest investment that Telangana has been able to attract in the segment. I am delighted that a homegrown company, which has been operating in Hyderabad for many years, is making this investment. We are confident that this investment will act as an anchor and spur further investments in EV and advanced cell chemistry ecosystems in the Divitipalli and Zaheerabad clusters, create manufacturing hubs and create many direct and indirect jobs.”
Amid the friendly policies of Telangana, many companies signed contracts with huge investments to establish their projects in the Telugu State of Telangana.
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