Gujarat government has set aside 22.50 lakh sq m land to Agratas Energy storage solution in Sanand to establish a lithium ion cell manufacturing factory.

Agratas Energy had signed an MoU with the Gujarat government in June and pledged Rs13,000 crore investment in the first phase. This would be the first of its kind factory in the country.

A top official said that an announcement on this regard will mad made during the Vibrant Gujarat Global Summit.

The decision to allot the land was taken earlier this month and would be cleared by the state cabinet soon. Lithium batteries are used in electric vehicles and the “Make in India project” would give a boost to EVs in India.

According to valuation of the government,"Agratas would be given a total 22,50,132 sq m land in North Kotpura, survey no 2 in Sanand, on lease. The lease period is for 50 years and the annual rent would be Rs 69.52 crore with an increase of 10% every year. The market value of the above land is Rs 5,150 per sq m totalling 1158.81 crore."

The land parcel is vacant and the total area is 24.62 lakh sq m. Of this, 38,850 sq m land has been allotted for setting up ESIC hospital.