Lithium-ion battery recycling and refurbishment sector company Navprakriti has announced to set up a critical minerals refining facility in Odisha with an investment of over ₹100 crore. According to the company, this state-of-the-art plant is expected to be operational by financial year 2028–29.
This project is an important part of the company’s expansion, in which important minerals like cobalt, nickel and lithium will be extracted through the new plant. This will strengthen the country’s domestic supply chain and give a boost to the battery recycling sector.
The company has recently received eligibility under the National Critical Mineral Mission, which has given a boost to the company’s projects related to extraction and development of critical minerals. This plant located in Odisha will process about 5,000 metric tons of old (end-of-life) batteries every year and recover essential minerals from them.
Navprakritika says that this initiative will help in strengthening India’s circular economy as well as reduce dependence on imports. The company is also partnering with national and international institutions in the field of Research and Development (R&D) to advance chemical recovery and battery refurbishment technologies.
Founded by Akhilesh Bagaria and Avnish Bagaria in the year 2024, the first unit of the company is already operational in Serampore, West Bengal. It is considered to be the largest lithium-ion battery recycling facility in Eastern India, with an annual capacity of 12,000 tonnes, expandable to 24,000 tonnes.
The upcoming Odisha plant will be the company’s second unit, which will focus exclusively on extraction of critical minerals. The project is expected to help strengthen the country’s supply chain and advance the Sustainable Development Goals.
Akhilesh Bagaria said this investment of ₹100 crore will not only expand but also set a new benchmark for responsible battery recycling and advanced mineral recovery. He said that this project will also generate more than 500 direct and indirect employment opportunities.
At the same time, Avnish Bagaria said that after getting eligibility under the National Critical Mineral Mission, the company is rapidly progressing its target, under which it plans to partner with more than 150 battery manufacturers (OEMs) in the next three years. This initiative will be an important part of strengthening the battery-based circular economy in India and achieving self-reliance in the critical minerals sector.
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