ARBL, Telangana sign MoU for lithium-ion battery gigafactory
In the first phase, the company would invest between Rs 1500 crore to Rs 2000 crore. The funds would be arranged through internal sources of the company.
HYDERABAD: Amara Raja Batteries Limited (ARBL), one of India’s leading industrial and automotive battery majors on Friday signed a Memorandum of Understanding (MoU) with the Government of Telangana for setting up of Lithium-ion Battery Gigafactory at Divitipally in Mahabubnagar district.
The MoU was signed by Jayesh Ranjan, principal secretary of Industries & Commerce and Information Technology, Telangana and ARBL ED Vikramadithya Gourineni in the presence of IT and Industries Minister K T Rama Rao, ARBL CMD Jayadev Galla and other officials of Telangana government and ARBL.
Later talking to the media, Jayadev said the company would invest Rs 9,500 crore in a phased manner during the next 10 years with an employment opportunity of 4,500 people.
In the first phase, the company would invest between Rs 1500 crore to Rs 2000 crore. The funds would be arranged through internal sources of the company.
The first phase will be completed within 2-3 years, he added. The officials of ARBL said the company will also set up Amara Raja Technological Hub near Shamshabad Airport.
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