Base Batteries, the Bangalore-based manufacturer of various types of batteries, is setting up manufacturing facility in Hosur in Tamil Nadu with an investment of Rs 432 crore.

Construction started recently on the 180-acre campus following clearances for the project from the government, according to the company's Chief Operating Officer Mr Aditya Arora.

The company has roped in seven banks, including Axis, IDBI and Indian Overseas Bank, to fund Rs 272 crore of the total project cost with the balance amount coming from its internal accruals, he told newspersons while announcing a tie up with Formula 1 team Hispania Racing Team.

The Hosur plant will be ready in two years to manufacture 3.2 lakh batteries every month and annually worth Rs 2,000 crore. A research and development team, including a German national working on new a product, has commenced work from the site. The first phase will be completed in 18 months with the plant starting work with around 2,000 employees. When fully done, nearly 3,500 people will be working in the plant, he said.

Founded in the year 1987, Base used to be exclusive distributor for Panasonic brand of batteries in India. It set up its design and R&D facility in 2000 to introduce Base Terminal, its own brand of batteries in the year 2002. In 2006 the company started an assembly line in Solan Himachal Pradesh that a full-fledged plant by 2007.

The company is also expanding its Solan facility with an investment of Rs 60 crore to expand the present capacity of around 50,000 batteries a month to 80,000 units, he said.

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