Mukesh Ambani Reliance's big win, bags Rs 3620 crore worth of sops for producing...

Mukesh Ambani, Reliance Industries chairman, is the richest man in India. The 67-year-old has been advancing his business empire. His Reliance Industries, whose market cap is Rs 20.49 lakh crore, is present in several sectors including retail, telecom and others. Now, the company has bagged Rs 3,620 crores worth of sops for producing advanced chemistry cell (ACC) batteries.

The company has been awarded a 10 GWh ACC capacity battery storage plant under the Production Linked Incentive (PLI) scheme based on the Quality and Cost Based Selection (QCBS) mechanism. The aim is to boost domestic manufacturing capacity, reduce reliance on imports, and position India as a global leader in ACC battery production.

The Union Ministry of Heavy Industries (MHI) of India announced RIL as the successful bidder under the Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage. The Ministry had received bids from seven companies during the re-bidding process for the 10 GWh ACC manufacturing capacity, with a maximum budgetary outlay of Rs 3,620 crore, as announced on January 24 this year.

The bidders included ACME Cleantech Solutions Private Limited, Amara Raja Advanced Cell Technologies Private Limited, Anvi Power Industries Private Limited, JSW Neo Energy Limited, Lucas TVS Limited, Reliance Industries Limited, and Waaree Energies Limited, for a total capacity of 70 GWh. After evaluating all seven bids, six companies were shortlisted for financial evaluation, in accordance with the RFP requirements.

(With inputs from PTI)