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T'gana CM assures continued support for Amara Raja's Giga Corridor
Amara Raja Energy & Mobility (formerly Amara Raja Batteries) Chairman and Managing Director, Jayadev Galla met Telangana Chief Minister A. Revanth Reddy and state Minister for Industries D. Sridhar Babu, here on Wednesday.
Hyderabad: Amara Raja Energy & Mobility (formerly Amara Raja Batteries) Chairman and Managing Director, Jayadev Galla met Telangana Chief Minister A. Revanth Reddy and state Minister for Industries D. Sridhar Babu, here on Wednesday.
They discussed Amara Raja's ongoing projects in Telangana and explored future areas of collaboration between Telangana and Amara Raja.
Amara Raja, as part of its foray into advanced energy storage technologies to address the growing electric mobility and energy storage markets, is setting up a Giga Corridor with an investment of Rs 9,500 crore.
The project includes one of India's largest lithium-ion Giga factories for Advanced Chemistry Cell (ACC) manufacturing and Battery Pack assembly at Telangana New Energy Park, Mahbubnagar.
It is also setting up a research and development hub the E-Positive Energy Labs in Shamshabad on the outskirts of Hyderabad.
The project has direct employment potential for 4,500 people and indirect employment for almost the same number.
Chief Minister Revanth Reddy said that Amara Raja is a key partner in Telangana's growth story and assured the necessary support towards 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 said.
Amara Raja Energy & Mobility (ARE&M) is one of India's leading energy storage and mobility enterprises and also one of the largest manufacturers of batteries for both industrial and automotive applications.
"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," said Jayadev Galla, Chairman & Managing Director, ARE&M.
This was the first meeting Jayadev Galla had with the Chief Minister after a change of government in the state last month.
It was in May last year that Amara Raja commenced work on its Giga plant at Divitipally in Mahabubnagar district.
In December 2022, the Telangana government had entered an MoU with Amara Raja for Giga Corridor that aims to produce Lithium Cell and Battery Packs with an ultimate capacity of up to 16 Gigawatt hours (GWh) and up to 5 GWh, respectively.
At the time of signing of MoU, the company had announced that it would invest Rs 9,500 crore in a phased manner during the next 10 years.
In the first phase, the company would invest between Rs 1,500 crore to Rs 2,000 crore.
The funds would be arranged through internal sources of the company.
The first phase will be completed within 2-3 years.
