Exide Industries MD and CEO Gautam Chatterjee has said the company will invest over Rs 550 crore for setting up a recycling battery plant and expanding its existing facility here to manufacture Nickel-Cadmium batteries.
“The expansion project will mainly produce high-end Nickel-Cadmium batteries in technical collaboration with Furukawa of Japan,” he said.
He added: “These batteries have applications in bullet trains, metro rail and other critical installations. This plant will also produce lead acid batteries. We are also setting up a battery recycling plant here. The investment will be over Rs 550 crore in these two projects.”
Exide’s lead recycling business is carried out by its wholly-owned subsidiary Chloride Metals Ltd which clocked a turnover of Rs 2,013 crore in financial year 2017-18.
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