Tecchren Batteries, an Indian unit of U.S.-based lithium ferro phosphate batteries maker Tecchren Inc, is intending to construct a new battery facility at Sri City in Andhra Pradesh.
Tecchren Batteries signed a memorandum of understanding with The Andhra Pradesh Economic Development Board about the proposed project.
The company plans to invest approximately 450 crore rupees ($63.4 million) in the new battery facility.
Techren Batteries said that the new facility will increase employment opportunities in Andhra Pradesh when the facility starts its operation.