Attero and the Government of Telangana sign pact for new facility set-up generating huge employment.
With EV production going up, e-waste management has become the next major issue to be addressed. Noida-based Attero Recycling has recently announced its plan to set up an integrated lithium-ion battery recycling factory in Telangana with an investment of Rs 600 crore. Spread over 50 acres, this new unit would increase the company’s lithium-ion battery recycling capacity to 19,500 MT by the end of 2023 from its current capacity of 4,500 MT. This will be the company’s second li-ion battery recycling facility in the country.
KT Rama Rao, Minister for IT & Industries, Telangana, said, “We were one of the first states to introduce the ‘EV & ESS’ policy in 2020. The EV ecosystem is thriving in the state and we are glad that Attero will also be a significant part of the ecosystem. We are happy that the company is investing to establish a new facility in Telangana that will generate employment opportunities.”
Nitin Gupta, CEO and Co-Founder, Attero Recycling said, “This facility will be instrumental in paving the way for India’s independence in battery materials. Telangana is an ideal location as it is a hub for the EV industry and is creating a favourable environment for the adoption of zero-emission vehicles.”
The company also has plans to recycle 300,000 tonnes of lithium-ion batteries by 2027 especially at the outlook of the global recycling industry projected to reach $22.8 billion by 2030, up from $4.6 billion currently, expanding at a CAGR of 19.6 per cent.
