Ami Organics Ltd has signed a non-binding MoU with a global manufacturer of electrolytes for production of battery cells and allied materials in Gujarat.
According to a regulatory filing, the company will also sign an MoU with the Gujarat government at the upcoming Vibrant Gujarat Summit 2024 for ₹300-crore investment to set up a manufacturing facility for electrolytes in the State.
Naresh Patel, Executive Chairman and Managing Director, Ami Organics Limited, said, “It gives me immense pride to announce this landmark MoU, first for Ami Organics with a global manufacturer of electrolytes. We are privileged to build a long-term association as we collaborate with an illustrious name in the industry.”
Ami Organics stock rose by 7.95 per cent on the NSE, closed at ₹1,170 as of 3.30 pm on Thursday.
