INSUBCONTINENT EXCLUSIVE:
The company is also building a new project in Odisha and announced an investment of Rs 10,000 crore in phases
The first phase is under construction Representative Picture2 min read Last Updated : Sep 15 2024 | 10:50 AM IST
Battery materials
manufacturer Epsilon Advanced Materials is planning to set up a Rs 9,000-crore anode plant in Karnataka with an annual production capacity
of 90,000 tonne, a top official of the company said.
The investment in the plant would be made in two phases
In the first phase, Rs 4,000 crore would be invested and the remaining Rs 5,000 crore would be pumped in in the second phase, Epsilon Group
Managing Director Vikram Handa said.
"So, we are looking to build a 30,000-tonne anode plant in India by Q4 2026, which will entail an
investment of about Rs 4,000 crore
The plant will be scaled up to 90,000 tonne (capacity) by 2031
electric vehicles in India, there is a need for Indian cell manufacturing companies to set up battery plants in the country
Epsilon products will act as a sustainable and reliable supplier of anode and cathode material to these cell companies.
This way, Epsilon
is playing a key role in the raw material processing ecosystem within the country and even for global demand.
The company plans the
groundbreaking ceremony for the plant in the next six to eight months, Handa said, adding that the construction of the plant will take a
year and a half.
"The idea is to have supply in the market by 2026-end or 2027 beginning," he explained.
The company plans to partly
fund the project in the first phase by customer advance, debt and project financing as well because it is a big amount, he said.
"There is
a lot of stickiness of the customer with this product
Today, we need a customer, but once acquired they will remain with us for next seven to eight years because the cost to replace the battery
material is too high," Handa added.
The parent entity, Epsilon Carbon, is into the production of speciality carbon and carbon black that
Today, the company has about 1,100 people on-roll and off-roll operating at its plant in Karnataka.
The company is also building a new
project in Odisha and announced an investment of Rs 10,000 crore in phases
The first phase is under construction.(Only the headline and picture of this report may have been reworked by the Business Standard staff;
the rest of the content is auto-generated from a syndicated feed.)First Published: Sep 15 2024 | 10:50 AMIST
