Gravita India to invest INR 62 cr in a new battery recycling unit in Gujarat

Gravita India, announced operations at a new battery recycling plant near Mundra Port and to invest INR 62 crore to expand its capacity to 48,000 MTPA.

Gravita India, a company engaged in battery recycling, on Monday said its new battery recycling plant near Mundra Port in Gujarat has been operationalised and it plans to invest a total of INR 62 crore to increase its production capacity to 48,000 MTPA. 

The plant’s capacity in Phase-I is 19,500 MTPA, and the company has spent INR 32 crore on it, with INR 26 crore coming from external borrowings and the rest coming from internal accruals, according to a regulatory filing by Gravita India.

As part of the expansion, the company will incur additional capital expenditure of INR 30 crore on this facility to take its capacity from 19,500 MTPA to 48, 000 MTPA, it added.

In the key overseas market, Gravita said it expects to gain a greater share in the lead, aluminum, and plastic recycling sectors.

Closer proximity to the port will increase efficiency of operations as import of crap and export of finished goods will be carried out using the same port. This will result in optimisation of logistics costs coupled with reduction in the working capital cycle of the company,” it said.

Consequently, the company claims its plant is “well positioned to meet the growing demand from overseas markets” as well as increasing profitability with greater operational efficiency.

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