Bangalore-based battery maker Base
Industries is setting up manufacturing
facility in Hosur in Tamil Nadu with an
investment of
432 crore. Construction
work on a 180-acre plot has already begun.
While
272 crore will be raised from a
clutch of banks including Axis Bank, IDBI
Bank and Indian Overseas Bank, the
remaining will come from internal accruals.
The Hosur plant will be ready in two
years to manufacture 3.2 lakh batteries
every month, annually valued at
2,000
crore. A research and development team,
including a German national working on
new a product, has commenced work from
the site. The first phase will be completed
in 18 months with the plant starting work
with around 2,000 employees.
Founded in 1987, Base used to be
exclusive distributor for Panasonic brand of
batteries in India. In 2002, it set up its design
and R&D facility to introduce Base Terminal,
its own brand. Commercial operations of
Base Terminal started in 2002.