BUSINESS

India’s first lithium-ion cell manufacturing plant to come up in Andhra

New Delhi, June 13: In line with the government’s “Make in India” initiative, Munoth Industries, promoted by Chennai-based Munoth group, announced here on Wednesday the setting up of India’s first lithium-ion cell manufacturing plant in Tirupati, Andhra Pradesh, for the mobile industry. The plant will be set up with an outlay of Rs 799 crore in three phases, Munoth Industries said, adding that the plant will provide employment opportunities to 1,700 people. The first phase of the project will be operational by March 2019 and the second and third phases by 2022, the company added. (IANS)