Altmin to Set Up India’s First LFP Cathode Giga-Factory with Rs 750 Crore Investment

Altmin Private Limited has announced the establishment of India’s first Lithium Iron Phosphate (LFP) cathode giga-factory, with an investment of ₹750 crore. The foundation stone for the facility was laid at Divitipally, marking a step towards strengthening India’s battery materials manufacturing sector.  

The new plant will have an initial production capacity of 8 GWh, with plans to scale up to 100,000 MTPA by 2030. Spanning 20 acres, the facility will supply key battery materials for India’s energy storage and electric vehicle (EV) industries. Additionally, Altmin aims to secure its supply chain through partnerships with South American mines. The project is expected to generate 800 direct jobs, contributing to local employment and skill development.  

Located next to Amara Raja’s battery manufacturing facility, the Altmin plant is positioned within an evolving energy ecosystem. This proximity suggests potential collaboration in the region’s battery production and supply chain development.  

The foundation-laying event was attended by several government officials, including Shri Ashwini Vaishnaw, Minister of Railways, Government of India, and Shri D. Sridhar Babu. Other attendees included Mahbubnagar’s Member of Parliament and Member of Legislative Assembly, the District Collector, Shri Jayesh Ranjan, Special Chief Secretary, Government of Telangana, and Mr. Jayadev Galla, Co-founder of Amara Raja Group.  

As India continues its focus on domestic energy storage and EV manufacturing, Altmin’s new facility may contribute to the development of a stable supply chain for lithium and battery materials, trying to help with the country’s sustainability goals.