Okaya Power has pumped in Rs 137 crore to set up a plant in Baddi in Himachal Pradesh to manufacture batteries for inverters.
The plant, that would manufacture batteries having capacity of 80-180 AH, will be eligible for the industrial package given by the Centre till recently in the form of excise duty exemption to investments in Himachal Pradesh, company's Vice-President Navin Sharma said here.
The investment of Rs 137 crore has been sourced from a mix of internal resources and debt, he said, adding that the plant has a manufacturing capacity of 12 lakh batteries per year.
Okaya Power manufactures batteries using Japanese technology for inverters as well as UPS.
Sharma claimed that Okaya has 41 per cent market share in inverter batteries.
"Okaya is the fastest growing battery brand in India with an installation base of more than 7 million batteries and a nationwide network of more than 24,000 dealers and 486 distributors, 506 customer care centers, 27 branch offices all across India," he claimed.
