ACI signs non-binding MoU with Andhra Pradesh Economic Development Board

Archean Chemical Industries has entered into a non-binding Memorandum of Understanding with the Andhra Pradesh Economic Development Board, Government of Andhra Pradesh, to explore the establishment of a Battery Energy Storage Giga Factory at Visakhapatnam, Andhra Pradesh.

The proposed project envisages a manufacturing capacity of up to 5 GWh per annum, with an indicative investment of approximately Rs.2,000 crore, through a proposed Special Purpose Vehicle, potentially in collaboration with technology and/or financial partners.