The Hindu Business Line : Eveready to set up battery unit in Uttaranchal

THE newly-restructured Eveready Industries India Ltd, the flagship company of B.M. Khaitan Group, today announced setting up of a greenfield battery factory in Uttaranchal.

The announcement was made by Mr Deepak Khaitan, Vice-Chairman and Managing Director of Eveready Industries.

The cost of the project would be Rs 75 crore and it would be funded through internal accruals and project financing programme.

The capacity of this plant would be 400 million pieces per annum and it would produce only AA batteries. With this plant, the total battery production capacity of Eveready Industries would increase to 1.7 billion pieces per annum from the existing level of 1.3 pieces billion per annum.

"The first line of production in this new factory would be ready by April 2006 and the second line by October 2006," Mr Khaitan told presspersons at a press conference on Tuesday.

Eveready Industries has recently undergone a corporate restructuring exercise. The company has been demerged and its bulk tea business has been shifted to a newly created company by the name of McLeod Russel India Ltd.

Apart from battery and flashlights, Eveready Industries also runs a packet tea business. In the current year, Mr Khaitan said, the packet tea business is likely to register a 40 per cent growth. In the flashlight sector, the company is expecting a 25 per cent growth.

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