The company intends to enhance stakeholders value by participating in a sunrise sector with a very strong growth trajectory
Himadri Speciality Chemical Ltd. has announced plans to invest Rs 4,800 crore over the next 5–6 years in the establishment of a manufacturing facility for lithium-ion battery (LiB) components. The company's board, in a meeting held on Tuesday, approved the project, which aims to achieve a total annual production capacity of 200,000 metric tonnes of LiB components. The investment will be primarily funded through internal accruals, with the remaining amount sourced through debt.
The decision reflects Himadri's strategic move to tap into the burgeoning market for lithium-ion batteries, aligning with the growing demand for electric vehicles (EVs) and energy storage systems (ESS). The manufacturing facility is expected to contribute to the indigenization of LiB raw materials, serving both the global and domestic markets.
By venturing into this sunrise sector, Himadri aims to enhance stakeholder value and play a vital role in reducing dependency on fossil fuels, thereby promoting sustainability and the preservation of natural resources. The initiative aligns with the broader trend towards cleaner energy solutions and the global shift towards electric mobility.
Himadri Speciality Chemical, headquartered in Kolkata, specialises in the production of various chemical products, including coal tar pitch, carbon black, battery materials, specialty oil, and refined naphthalene. These products cater to diverse industries, and the company's foray into LiB components underscores its commitment to staying at the forefront of emerging technologies and contributing to a greener and more sustainable future.