Tata Group Company Gets Land In Sanand

Source: Ahmedabad Mirror

"22.50 Lakh Sq M Land Worth Rs 1,160 Cr Market Value Allotted To Agratas Energy, A Tata Grp Company, To Set Up Plant That Will Create 13,000 Jobs; Land Leased At Rate Of Rs 70 Cr/Yr For 50 Yrs"

Gujarat government has allotted 22.50 lakh sq m land to Agratas Energy storage solution in Sanand to set up a lithium ion cell manufacturing factory. A subsidiary of Tata group, the company had signed an MoU with the state government in June and pledged Rs13,000 crore investment in the first phase. This would be the first of its kind factory in the country.

An announcement in this connection would be made in the forthcoming Vibrant Gujarat Global Summit (VGGS), a top official of the industries department told Mirror. The decision to allot the land was taken earlier this month and would be cleared by the state cabinet soon. Lithium batteries are used in electric vehicles and the “Make in India project” would give a boost to EVs in India.

Summit (VGGS), a top official of the industries department told Mirror. The decision to allot the land was taken earlier this month and would be cleared by the state cabinet soon. Lithium batteries are used in electric vehicles and the “Make in India project” would give a boost to EVs in India.

Agratas would be given a total 22,50,132 sq m land in North Kotpura, survey no 2 in Sanand, on lease. The lease period is for 50 years and the annual rent would be Rs 69.52 crore with an increase of 10% every year. The market value of the above land is Rs 5,150 per sq m totalling 1158.81 crore, according to valuation of the state government. The rent would be 6% of the total value of the land, the official added.

The land parcel is vacant and the total area is 24.62 lakh sq m. Of this, 38,850 sq m land has been allotted for setting up ESIC hospital.

The company will have a production capacity of 20 GWh in the first phase. The state government has claimed that it will generate direct and indirect employment for more than 13,000 people.

Agratas is owned by JLR parent company Tata. It will serve customers in Passenger Vehicle, Commercial Vehicle, 2 and 3 Wheeler and Energy Storage Solution (ESS) industries, supplying state-of-the-art high energy and long lasting LFP battery cells. Agratas will also support its customers with the integration of cells into their applications, such as modules and packs. The company plans to develop next-generation battery technologies at new R&D Innovation Hubs in India and the UK, collaborating with world-leading universities, research institutions and strategic partners.