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Japanese firm Amperex Technology Limited acquires 180-acre at Rs 550 crore in Haryana
Amperex Technology Limited (ATL), a producer of rechargeable Lithium Ion Polymer (LIP) batteries, has acquired a 180 acre land at Rs 550 crore close to Gurugram, Haryana in one of many largest land offers of the yr.
Owned by TDK company, a Japanese multinational expertise firm, ATL has acquired the land from Haryana State Industrial and Infrastructure Improvement Company (HSIIDC) by way of a bidding course of.
“We had invited on-line purposes for allotment of a plot of about 180 acres of business land in IMT Sohna. ATL was the one firm, which participated in the public sale. The land has been allotted to them final week they usually have 90 days to make the complete fee,” mentioned a HSIIDC official.
A world chief in supplying LIP batteries internationally, ATL has two cell manufacturing amenities in China however due to India-China border stress, it has determined to invest in an Indian manufacturing unit by the identify of ATL India expertise non-public ltd.
The reserve value of Rs 3.05 crore per acre was mounted for allotment of the positioning lies about 46.6 km away from Worldwide Airport, New Delhi.
In keeping with a report by Savills, industrial landlords in India are reporting an uptick in industrial occupation in their parks after producers beginning diversifying operations from China.
The report highlights that trade battle between the Unites States and China will affect cross-border exercise for a few years no matter US management, thereby strengthening alternatives for actual property funding in markets together with India, Vietnam and mainland Europe.
ATL didn’t reply to e-mail question until press time.
An individual conscious of the deal advised ET that this would be the largest manufacturing hub of ATL in India and its a strategic funding by the Japanese firm.
The corporate plans to invest Rs 7000 crore in subsequent few years to provide batteries to industries together with sensible telephones, two and three wheeler e-vehicles.
Headquartered in Hong Kong, ATL operates factories in Dongguan and Ningde, in the Folks’s Republic of China.
From being a producer in Southern China in 1999, ATL grew right into a LIB power-house. In 2005, TDK company, an digital MNC acquired ATL.
Whereas the continued trade battle between the US and China can be overshadowed by the influence of the Covid-19 pandemic this yr, it has already accelerated shifts in international trade patterns, says Savills.
Main beneficiaries of firms shifting away from China embody Vietnam, the place manufacturing exports to the US rose by virtually 36% in 2019 making it the US’s quickest rising trade accomplice final yr, and India, Malaysia, Thailand and South Korea, in response to Savills.