Exide to invest Rs 420 crore in two Haldia units
Mamata Banerjee announced that the government would provide 25 acres of land to Exide for the plant.
Kolkata: Leading battery maker Exide Industries will invest Rs 420 crore for manufacturing state-of-the-art batteries for two-wheelers and for setting up a smelting plant in Haldia.
Chief minister Mamata Banerjee, who inaugurated a punched grid battery making unit, announced that the government would provide 25 acres of land to Exide for the plant.
Announcing the expansion plans, Exide’s MD and CEO Gautam Chatterjee He said the new battery plant inaugurated on Monday has been built in collaboration with US-based East Penn Manufacturing with a capital investment of Rs 700 crore. On the Centre’s demonetisation decision, the industrialist said the move has affected the motorcycle batteries market with sales dipping by 30 per cent in December, although sales in the replacement market and of four-wheeler batteries have not been impacted.