Manikaran Power Limited

Manikaran Power Invests Rs 1,000 Cr. To Set-up India’s First Lithium Refinery

India’s first Lithium refinery which will process Lithium ore to produce battery-grade material will be set up in Gujarat. This project is expected to secure the raw material supply for domestic manufacturing of Lithium batteries as it looks to promote electric vehicles.

Manikaran Power Limited, one of the country’s largest power trading and renewable energy company will be investing over Rs 1,000 crore to set up this refinery.

They are coming to Gujarat for sure are currently exploring a couple of places in Sanand and Dholera to set up this refinery.

Lithium is a rare element not usually found in India. The company will be importing Lithium ore from Australia and will be processing it here. Last year, Manikaran Power had collaborated with Australian firm Neometals to tap the Mount Marion Lithium mine in Western Australia.

India currently imports most of the Lithium needed. China, Hong Kong and Vietnam were the leading sources of imports.

According to data tabled in the Parliament in February 2020, the import of Lithium-ion batteries quadrupled to 712 million batteries in 2018 from 175 million in 2016.

With India poised to become one of the largest electric car market of the world, the country is also looking to reduce it dependence on imports and become “Atamnirbhar” in this domain.

Reference- The Indian Express, Economic Times, Mercom India, Manikaran Power Limited PR