Sanand: The Gujarat government has allocated 22.50 lakh sq m of land in Sanand to Agratas Energy Storage Solutions  (a subsidiary of the Tata Group) for the establishment of a lithium-ion battery manufacturing facility. The company had previously entered into an MoU with the state government in June, committing to an initial investment of Rs 13,000 crore.

An official from the industries department informed media that the formal announcement would be made during the upcoming Vibrant Gujarat Global Summit (VGGS). The decision to allocate the land was made earlier this month and is expected to receive approval from the state cabinet shortly.

Agratas will be granted a total of 22,50,132 sq m of land in North Kotpura, survey no 2 in Sanand, on a 50-year lease. The annual rent, starting at Rs 69.52 crore, will increase by 10% annually. The state government’s valuation estimates the market value of the land at Rs 5,150 per sq m, totaling Rs 1,158.81 crore. The annual rent is set at 6% of the land’s total value.

The vacant land parcel, has a total area of 24.62 lakh sq m, out of which 38,850 sq m is set aside for the establishment of an ESIC hospital.

In its first phase, Agratas aims for a production capacity of 20 GWh. The state government anticipates that this initiative will create direct and indirect employment opportunities for over 13,000 individuals. DeshGujarat