India's Himadri Specialty Chemicals forays into lithium-ion battery component manufacturing

Kolkata-based specialty chemical company, Himadri Specialty Chemicals Ltd on Wednesday (Dec. 6) announced plans to set up a commercial plant for the manufacturing of lithium-ion battery components with an overall investment of INR 4,800 crore.

The plant will aim to make 200,000 million tonnes per annum (MTPA) of lithium iron phosphate (LFP) cathode active material, one of the key materials used in making lithium-ion battery cells, in phases over the next five-six years, the company, said. The commercial plant will be established in Odisha and will cater to global as well as domestic demand.

At the full utilization of the plant, the company expects to generate a revenue of about four times the capital expenditure. Further, the company has clarified that most of the CAPEX will be funded through internal accruals and balance from debt.