Thursday, Apr 25 2024 | Time 09:01 Hrs(IST)
image
Business Economy


ARBL & Telangana Govt sign MoU for setting up of Lithium-ion Battery Gigafactory

ARBL & Telangana Govt sign MoU for setting up of Lithium-ion Battery Gigafactory

Hyderabad, Dec 2 (UNI) 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, Government of Telangana and ARBL Executive Director Vikramadithya Gourineni in the presence of IT and Industries Minister K T Rama Rao, ARBL Chairman & Managing Director Jayadev Galla and other officials of Telangana government and ARBL.

Later talking to the media, Jayadev said that 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 that the company will also set up Amara Raja Technological Hub near Shamshabad Airport.

The details of land allotment at both places—Divitipally and Shamshabad Airport will be announced later, the officials added.

UNI VV CS1716

More News

NSE launches derivatives on Nifty Next 50 Index

24 Apr 2024 | 9:16 PM

Mumbai, Apr 24 (UNI) National Stock Exchange of India Ltd (NSE), the world’s largest derivatives exchange for consecutive fifth year in a row in the year 2023 based on contracts traded as published by FIA, launched futures and options contracts on the Nifty Next 50 Index on Wednesday.

see more..

KABIL signs MoU with CSIR-NGRI for geophysical investigations

24 Apr 2024 | 7:47 PM

Bhubaneswar, April 24 (UNI) Khanij Bidesh India Limited (KABIL) has signed a Memorandum of Understanding (MoU) with the Council of Scientific and Industrial Research - National Geophysical Research Institute (CSIR-NGRI) to foster a long-term collaboration in the field of geophysical investigations to bolster its ongoing projects and activities in critical and strategic minerals.

see more..

Dish TV revolutionises entertainment with ‘Dish TV Smart+’ services

24 Apr 2024 | 7:31 PM

Kolkata, Apr 24 (UNI) Dish TV has taken a path-breaking initiative to redefine the entertainment experience in India.

see more..

TRAI recommends sharing of active, passive infra by telecom providers

24 Apr 2024 | 7:03 PM

New Delhi, April 24 (UNI) With a view to improve quality of services and reducing cost, the telecom regulator TRAI on Wednesday recommended sharing of active and passive infrastructure among telecom service providers, a move that would help setting up network quickly across the nation.

see more..

REC to provide loan of Rs 1869 cr to Chenab Valley Power Project in J&K

24 Apr 2024 | 6:38 PM

New Delhi, April 24 (UNI) State-owned non-banking finance company REC Limited has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL), under which it will provide financial assistance of Rs 1,869.265 crore as a term loan.

see more..
image