Neogen Ionics Ltd., a wholly-owned subsidiary of Neogen Chemicals Ltd., and the State Bank of India (SBI) have finalized the loan documentation for a ₹894-crore loan, disbursed on July 20, 2024. This funding supports Neogen’s greenfield project for battery chemicals in Pakhajan, Dahej PCPIR, Gujarat.
Neogen currently operates one of India’s pioneering commercial-scale electrolyte production facilities, with a capacity of 2,000 mtpa, which supports the country’s existing trial cell manufacturing lines and emerging gigafactories up to 3 GWh.
The new greenfield site, financed through SBI’s project loan, will increase production capacity by an additional 30,000 mtpa, supporting up to 30 GWh of cell production in India.
In the initial phase, Neogen plans to produce 30,000 mtpa of electrolytes and 4,000 mtpa of electrolyte salts and additives. The electrolyte plant will use technology licensed from MUIS, a joint venture between Mitsubishi Chemical Corporation and UBE Corporation, while the electrolyte salts will be produced using Neogen’s proprietary in-house technology.
The new plant is projected to become operational in the second half of 2025. Neogen anticipates that the electrolytes and additives produced will meet the growing demands of lithium-ion cell manufacturers in India and address the expanding international market for these products.
