By IANS,
Chennai: Bangalore-based battery manufacturer Base Corporation has decided to enter the telecom and automotive equipment sectors from its proposed Rs.432-crore plant near Hosur in Tamil Nadu.
“Presently we are catering to the automotive replacement market and the inverter segment out of our Himachal Pradesh plant which is constrained by capacity. The big Tamil Nadu plant will enable us to venture into auto segments-all categories- as well as to other industries like telecom,” Chairman and Managing Director Girish Arora told IANS.
He said the plant near Hosur will come up on 75 acres and the company is in the process of acquiring another 75 acres.
“The proposed project will be funded with a mix of debt (Rs.270 crore), internal accruals and equity infusion by the promoters,” Arora said.
Base Corporation makes flat plate and tubular battery variants and sells under the brand Base Terminal.
The company also imports and sells Panasonic brand batteries.
“We are the sole distributor for Panasonic batteries in India for a long time. There is no conflict of interests as the items we sell under Panasonic brand are special batteries,” Arora said.
He said the Tamil Nadu plant is expected to start commercial production in two years time as construction is expected to begin in three months time.