Altmin Private Limited has unveiled plans to set up India’s first Lithium Iron Phosphate (LFP) cathode giga-factory with an investment of ₹750 crore. The groundbreaking ceremony for the plant took place at Divitipally, marking a significant milestone in bolstering India’s battery materials production capabilities.
The facility will start with a production capacity of 8 GWh, with plans to ramp up to 100,000 MTPA by 2030. Spanning across 20 acres, the plant will provide essential materials for India’s energy storage and electric vehicle (EV) sectors.
In addition, Altmin intends to secure its supply chain by establishing partnerships with mines in South America. The project is expected to create around 800 direct jobs, aiding local employment and skill development.
The plant, located near Amara Raja’s battery manufacturing facility, is situated within a growing energy ecosystem, suggesting potential collaborations to strengthen the regional battery production and supply chain network. The event was attended by notable government figures, including Shri Ashwini Vaishnaw, Minister of Railways, Government of India, Shri D. Sridhar Babu, along with Mahbubnagar’s Member of Parliament and Member of Legislative Assembly, the District Collector, Shri Jayesh Ranjan, Special Chief Secretary of Telangana, andJayadev Galla, Co-founder of Amara Raja Group.
As India continues its efforts to promote domestic energy storage and EV manufacturing, Altmin’s new facility is set to play a key role in supporting the development of a stable lithium and battery materials supply chain, contributing to the country’s sustainability objectives. Altmin is an innovative company at the forefront of providing cutting-edge solutions in the world of blockchain and cryptocurrency.
Specializing in decentralized finance (DeFi), Altmin offers a range of products and services designed to empower users with secure, transparent, and efficient financial tools. Through its robust platform, Altmin aims to bridge the gap between traditional financial systems and the decentralized world, offering solutions that streamline transactions, improve asset management, and foster a more inclusive financial ecosystem. With a strong commitment to innovation and security, Altmin is quickly gaining recognition as a key player in the rapidly evolving blockchain space.
