State Bank of India has sanctioned a credit facility of Rs. 1230 Crores to TACC Limited, a wholly-owned subsidiary of HEG. The funds will support the development of a green field manufacturing plant. This plant will produce 20,000 MTPA of Lithium-ion battery-grade Graphite Anode at Dewas, Madhya Pradesh. This initiative will significantly contribute to the company’s growth.
Credit Facility Approval
HEG has announced that State Bank of India has sanctioned a credit facility amounting to Rs. 1230 Crores for TACC Limited. TACC Limited is a Wholly Owned Subsidiary (WOS) of HEG.
Project Details
The credit facility will be used to partially fund the development of a green field manufacturing plant. The new plant will have a production capacity of 20,000 MTPA (Metric Tons Per Annum). The plant will produce Lithium-ion battery grade Graphite Anode.
Location
The new manufacturing plant will be located at Dewas, Madhya Pradesh.
Source: BSE
