Himadri Speciality Chemicals to invest ₹4,800 cr to make lithium iron phosphate
Himadri Speciality Chemicals will invest ₹4,800 cr over the next 5–6 years in setting up a plant that will produce 2 lakh tonnes of lithium iron phosphate (also known as LFP or lithium ferrophosphate), a key material for making lithium ion batteries used in electric vehicles. This is the first such plant in India.
In the first phase, it will invest ₹1,125 cr in the first phase for a 40,000 tonne per annum plant in Odisha. It intends to complete the project in 27–36 months.
The project will be executed by the step-down, wholly-owned subsidiary, Himadri Future Material Technology.
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