JSW group to raise Rs 1,487 crore for setting up EV unit in Maharashtra

JSW Greentech Ltd, a JSW Group entity, plans to raise about ₹1,487 crore through a long-term loan for setting up a greenfield facility to manufacture electric buses (e-buses) and electric trucks (e-trucks) as well as a supporting eco-system in Aurangabad, Maharashtra.

 

The automotive facility is expected to have a capacity to make 10,000 e-buses and 5,000 e-trucks per annum.

 

The capital expenditure (capex) for the manufacturing facility for vehicles and related components is to be funded by debt of ₹1,487.5 crore and the rest by equity infusion from the JSW Group.

 

Rating agency ICRA has assigned an ‘A-’ rating (stable)