Exide to invest Rs 550 crore in two projects in West Bengal

Exide to invest Rs 550 crore in two projects in West Bengal

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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