Top News
Exide to invest Rs 550 cr for two projects in Bengal (Lead)
Haldia, Aug 7 (IANS) Exide Industries, which is aspiring to supply batteries for bullet trains, will invest over Rs 550 crore for setting up a battery recycling plant and expand its existing facility here to manufacture Nickel-Cadmium batteries, an official said on Tuesday.
“The expansion project will mainly produce high-end Nickel-Cadmium batteries in technical collaboration with Furukawa of Japan. These batteries have applications in bullet trains, metro rail and other critical installations. This plant will also produce lead acid batteries.
“We are also setting up a battery recycling plant here. The investment will be over Rs 550 crore in these two projects,” company’s MD and CEO Gautam Chatterjee said.
Both the projects will be completed in the next 12-18 months, he said.
Earlier in the day, West Bengal’s Minister for Transport and Environment and Chairman of Haldia Development Authority Suvendu Adhikari laid the foundation for the two plants.
The new facility, which will be built on a 20 acre land allotted to the company by the Kolkata Port Trust, will have the capacity to manufacture 1.2 lakh batteries every month and it will also have a mega charging station.
The greenfield battery recycling plant with latest European technology will be set up on another 20 acre land given by Haldia Development Authority, Chatterjee said.
In collaboration with Italy’s Energitech Technologies, one of the leading players in this field, the plant in Haldia will have a monthly capacity of 15,000 metric tonnes, making it the country’s largest lead recycling plant.
The company already operates two lead recycling plants near Pune and Bengaluru. Their combined monthly capacity is 11,500 metric tonnes of recycled lead.
Exide’s lead recycling business is carried out by its wholly-owned subsidiary Chloride Metals Ltd which clocked a turnover of Rs 2,013 crore in financial year 2017-18.
According to Chatterjee, the company has a two-pronged strategy to make Haldia one of the largest and integrated self-sufficient battery making centres in South-East Asia where it manufactures everything from recycled lead to finished battery.
In the current fiscal, the lead-acid storage battery maker planned to make Rs 1,100 crore of capital expenditure including the investments of two projects.
“Haldia plant is contributing one-third of our battery production. Last year, we invested Rs 600 crore here and this year, the investment will be Rs 700 crore (of the total capital expenditure),” Chatterjee said.
He said the company, which have 11 plants across India, selected this plant for expansion on the basis of its cost effectiveness, adaptability of newer technologies, work culture and talent.
Applauding the West Bengal government’s proactive role, Chatterjee said they got the land promptly.
State Minister Adhikary also said that the government has a land bank here for companies to expand their businesses.
“There was a moratorium imposed by the Central Pollution Control Board on fresh investments in Hadia. The state worked hard in order to lift the ban and eventually, it was withdrawn in 2013. Now, several companies like Indian Oil, Hiranandani group LNG terminal, Mitsubishi Chemicals and others are expanding here,” he said.
–IANS
bdc/qd/sed
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.