Indian lead-acid battery maker Exide Industries has reportedly submitted plans to set up a third lead smelter at its plant in Haldia, West Bengal.
Exide is asking India’s national government for permission to install the smelter amid soaring lead prices, the Mumbai-based English language daily DNA reported.
According to DNA, Exide has told the government it would work with Italian engineering firm Engitec Technologies SPA, which would be contracted to provide the lead recycling technology.
Exide’s proposed investment in the project would be the equivalent of around $39 million and the new smelter plant would produce around 15,000 tonnes of lead and lead alloys monthly — generating revenues of more than $470m annually, DNA said.
Exide and Engitec did not respond to BBB’s requests for comment on the proposals.
However, Exide CEO and managing director G Chatterjee has said “rapidly escalating lead prices continue to be a major concern”.
Chatterjee’s comments came as the Indian firm reported “a significant improvement and growth in volumes” in automotive and motorcycle batteries in the first half of 2017, in addition to “growth in UPS”.
Exide said net turnover for the half-year ended 30 September was 4474.20 crores ($672m) compared to 3935.60 crores in the corresponding period last year.
