Rajesh Exports update on its foray into advanced technology energy solutions business

Rajesh Exports announced the signing of a tripartite agreement with the Ministry of Heavy Industries (Govt. of India), Department of Industries and Commerce (Govt. of Karnataka) and ACC Energy Storage (100% subsidiary of the company) paving the way of the company's foray into advanced technology energy solutions business.

Rajesh Exports has been selected by the Govt. of India as one among the three successful participants in the Rs. 18,100 crore PLI Scheme for production of advanced chemistry cells. As per the requirement of the PLI Scheme Rajesh Exports has incorporated a 100% subsidiary in the name of ACC Energy Storage, 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, Govt. 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.

Powered by Capital Market - Live News