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Rajesh Exports Signs Agreement with GoI for 5 GWh Lithium-ion Cell Factory

January 25, 2023. By News Bureau

Rajesh Exports Ltd. gained critical momentum upon execution of a Tripartite Agreement between The Ministry of Heavy Industries (Government Of India), Department of Industries and Commerce (Government of Karnataka) and ACC Energy Storage Pvt. Ltd.

Rajesh Exports Limited has been selected by the Government of India as one among the three successful participants in the Rs. 18,100 Crores PLI Scheme for production of Advanced Chemistry Cells.

As per the requirement of the PLI Scheme Rajesh Exports Limited has incorporated a 100% Subsidiary in the name of ACC Energy Storage Pvt Ltd, for execution of the project for manufacture of Advanced Chemistry Lithium Ion Cells for manufacture of Lithium Ion Batteries.

The Tripartite Agreement has been executed wherein the Ministry of Heavy Industries, Government of India has assured of all the required support for setting up of 5 GWhr Giga Factory.

The Department of Industries and Commerce, Government of Karnataka has also assured all the required support and tailor made incentive package for setting up the Giga Factory and ACC Energy Storage has undertaken to execute the project within the required time limit.

Rajesh Mehta, Chairman, Rajesh Exports Ltd. said, “While leading the Global Gold business, REL is foraying into advanced technology solutions for energy storage with an aim to provide clean and green energy to the World. REL would be taking all the required steps to emerge as a leading global player in advanced technology solutions for energy storage”

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Business

Rajesh Exports

Government of India

Government of Karnataka