Fri. Mar 1st, 2024

Amara Raja Energy & Mobility (previously Amara Raja Batteries) Chairman and Managing Director, Jayadev Galla met Telangana Chief Minister A. Revanth Reddy and state Minister for Industries D. Sridhar Babu, right here on Wednesday.

They mentioned Amara Raja’s ongoing initiatives in Telangana and explored future areas of collaboration between Telangana and Amara Raja.

Amara Raja, as a part of its foray into superior vitality storage applied sciences to handle the rising electrical mobility and vitality storage markets, is organising a Giga Corridor with an funding of Rs 9, 500 crore.

The undertaking contains one in all India’s largest lithium-ion Giga factories for Advanced Chemistry Cell (ACC) manufacturing and Battery Pack meeting at Telangana New Energy Park, Mahbubnagar.

It can also be organising a analysis and improvement hub the E-Positive Energy Labs in Shamshabad on the outskirts of Hyderabad.

The undertaking has direct employment potential for 4, 500 individuals and oblique employment for nearly the identical quantity.

Chief Minister Revanth Reddy mentioned that Amara Raja is a key accomplice in Telangana’s development story and guaranteed the required help in the direction of the operationalization of the Advanced Chemistry Cell Giga Factory, Pack Assembly and ePositive Energy Labs.

“Telangana is committed towards clean energy and advanced storage technologies like ACCs are a priority sector for the state, ” he mentioned.

Amara Raja Energy & Mobility (ARE&M) is one in all India’s main vitality storage and mobility enterprises and likewise one of many largest producers of batteries for each industrial and automotive purposes.

“We appreciate the government for their continued support towards quick execution of our landmark giga corridor project. Amara Raja is set to expand exponentially and we hope the government of Telangana continues to support industries so as to establish the state as a major force in the growing EV and new energy sector, ” mentioned Jayadev Galla, Chairman & Managing Director, ARE&M.

This was the primary assembly Jayadev Galla had with the Chief Minister after a change of presidency within the state final month.

It was in May final yr that Amara Raja commenced work on its Giga plant at Divitipally in Mahabubnagar district.

In December 2022, the Telangana authorities had entered an MoU with Amara Raja for Giga Corridor that goals to provide Lithium Cell and Battery Packs with an final capability of as much as 16 Gigawatt hours (GWh) and as much as 5 GWh, respectively.

At the time of signing of MoU, the corporate had introduced that it could make investments Rs 9, 500 crore in a phased method in the course of the subsequent 10 years.

In the primary part, the corporate would make investments between Rs 1, 500 crore to Rs 2, 000 crore.

The funds could be organized by means of inner sources of the corporate.

The first part will probably be accomplished inside 2-3 years.

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