Battery maker Exide Industries will invest Rs 6,000 crore to set up a Lithium-ion cell manufacturing factory in Karnataka, Industries Minister Murugesh Nirani said on Thursday.
This will be one of India’s largest giga factories for Advanced Cell Chemistry Technology that is expected to generate 1,200-1,400 jobs.
Nirani made the announcement after a meeting with Exide Industries managing director and chief executive Subir Chakraborty. According to Nirani, Exide has requested 80 acres of land at the Haraluru Industrial Area near the Kempegowda International Airport, about 40 km from Bengaluru.
During their meeting, Nirani told Chakraborty that the government would extend full cooperation to Exide and hoped that the project could take off soon. “The Basavaraj Bommai-led government is proactive in attracting investments. The investor-friendly atmosphere in the state is not available anywhere in the country,” Nirani said, adding that Karnataka stood first when it came to Foreign Direct Investments in the last three quarters.
The state government is aggressively wooing industries in the run-up to the flagship Invest Karnataka summit that is scheduled to be held in November this year where the Bommai administration wants to attract projects dealing with new or emerging technologies among other areas.
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(Published 31 March 2022, 13:25 IST)
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