Most of the investment will go into lithium iron phosphate for EV and storage batteries.
Himadri Speciality Chemicals plans to invest Rs 1,613 crore in capacity expansion, with Rs 1,125 crore going into lithium iron phosphate, a key battery material.
The plan also includes Rs 248 crore for speciality chemicals, Rs 170 crore for super speciality carbon black and Rs 70 crore for carbon nanotubes. The projects are due to be completed by the fourth quarter of the next financial year.
The company holds nearly 67 per cent of India's naphthalene market and recently launched what it calls the country's first commercial carbazole plant.
Chairman and CEO Anurag Choudhary said he expects significant growth in profitability over the next two years.
