From Our Special Correspondent
Daijiworld Media Network

Bengaluru, Jan 15: Large and Medium Industries Minister M B Patil on Wednesday laid the foundation stone for setting up of a Litheon-Iron Battery Production unit in Bengaluru at a cost of Rs 390 crore.

The Litheon-Iron Batteries from the new unit of International Battery Company (IBC) coming up in he Devanahalli KIADB ITIR Industrial Area, will be great boon to electric operated two and three wheelers.

The minister also inaugurated a display of all the types of batteries manufactured by the company.

The first phase of the battery manufacturing unit is expected to go into production in the next nine months. The company will be providing direct employment to 300 persons besides indirect employment to hundreds of people.

The minister was informed that the 20% of the batteries produced will be supplied to America and European countries.

The State Government had allotted 10 acres of land for IBC unit, which is closer to Foxcon Company.

As of now the IBC is importing battery cells manufactured in its unit in South Korea and subsequently manufactures them at the local unit. After the first phase becomes operational, the battery cells will be completely manufatured locally. In the next phase, the company will be producing batteries for all types of electronic vehicles.

The minister said the IBC battery manufacturing unit is the first of its kind, which will also produce Retrofit batteries.

State Industries and Commerce Department Commissioner Gunjan Krishna, IBC Chief Executive Officer Priyadarshi Panda, CSO Sunder Ramamurthy, Jastech President Jason Chung, Vice President Danny Chung, Mahanagar Gas Ltd MD Ashu Singhal and others were present.