NPSPL Speciality Chemicals Private Limited will set up a cathode material manufacturing facility in Gudupalle mandal, near Kuppam, in Andhra Pradesh, with an investment of ₹2,550 crore.
The Andhra Pradesh Government has approved the proposal and allocated 105 acres to the Kolkata-based company to set up the facility, which is expected to create 400 jobs.
The Government also agreed to extend the incentives under the Andhra Pradesh Electronics Component Manufacturing Policy to the company. This includes a 60 per cent capital incentive and a power cost reimbursement of ₹2 per unit for 10 years,
“The project shall be eligible for incentives, including early bird incentives, as per the provisions of the policy,” Bhaskar Katamneni, Secretary (IT) of Andhra Pradesh, has said.
The policy, created for 2025-30, aims to explore opportunities in electronic component manufacturing and attract investments in the sector.
The State Investment Promotion Board (SIPB) considered the proposal and recommended it to the government for its approval.
The Government has directed the Revenue Department officials to make the land available to the company.