Manikaran Power Limited, one of the country's largest power trading and renewable energy company will invest around Rs 1,000 crore to set up India's first Lithium refinery. In which state it is going to be set up?
This questions was previously asked in
SEBI Grade A (Ph 1 Paper 1 2020)
Maharashtra
Incorrect AnswerKarnataka
Incorrect AnswerExplanation:
- Manikaran Power Limited is planning to invest approximately Rs 1,000 crore to establish India's first lithium refinery.
- The correct option is: Option 3 - Gujarat.
- Gujarat has established itself as a favorable location for industries due to its progressive policies, strong infrastructure, and access to ports for export opportunities.
- The development of a lithium refinery is significant as it will support the booming electric vehicle market and reduce dependency on imports for battery components.
- Other states listed do not have the announced lithium refinery project by Manikaran, although states like Maharashtra and Karnataka also have strong industrial setups.
- The investment reflects a strategic move to capitalize on clean energy trends and boost domestic production capacity in renewable energy storage.
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By: Parvesh Mehta