Industrial real estate player Arete Group has announced the purchase of a industrial land of 65 acres at Payal Industrial Park in Pakhajan, Dahej PCPIR, Gujarat by Neogen Ionics Limited.

The newly acquired land is dedicated to the manufacturing of cutting-edge battery materials, including 30,000 MT of electrolytes and 4,000 MT of electrolyte salts and additives in the first phase.

Siraj Saiyed, Director of Arete Group, stated, “We are delighted to facilitate Neogen Ionics’ strategic move to establish a state-of-the-art Battery Materials facility at PIP. This collaboration exemplifies our commitment to fostering innovation and sustainable industrial development in the region. PIP is uniquely designed to support transformative initiatives, and we are enthusiastic about contributing to the success of Neogen Ionics’ visionary project.”

Haridas Kanani, CMD, Neogen Ionics Limited said, "We are happy to conclude the land acquisition for our planned greenfield project at PIP dedicated to battery materials in a timely manner. As we advance in finalizing the design in collaboration with our technology license provider MUIS, we are well-positioned to commence operations in H2 of CY 2025. This ensures alignment with our domestic and global customer timelines, allowing us to uphold our first-mover advantage in the Indian battery material supply chain."