Himadri Speciality Chemical Ltd has announced plans to invest Rs 4,800 crore within the next 5-6 years to establish a manufacturing unit for Lithium-ion Battery components. The company disclosed in a regulatory filing that its board, during a meeting held on Tuesday, has sanctioned the creation of this manufacturing facility for the production of Lithium-ion Battery (LiB) components. This facility is anticipated to have an overall annual production capacity of 200,000 tonnes. The investment will be carried out in phases, either directly or through its subsidiaries, to meet the estimated project cost over the specified timeframe of 5 to 6 years.
The company plans to primarily fund the investment through internal profits, supplemented by debt financing as required. It aims to create value for stakeholders by entering a burgeoning industry poised for robust growth. The establishment of this factory is expected to facilitate the production of essential Lithium-ion Battery (LIB) raw materials, catering to the global and domestic electric vehicle (EV) and energy storage system (ESS) markets. This move aligns with the company's goal of contributing to sustainability, diminishing reliance on fossil fuels, and conserving natural resources.
Himadri Speciality Chemical, headquartered in Kolkata, specializes in the production of various products such as coal tar pitch, carbon black, battery materials, specialty oil, and refined naphthalene, among others. These products have broad applications across multiple industries. The company's objective is to support sustainability efforts by reducing reliance on fossil fuels and preserving natural resources.