Attero plans to invest over Rs 8,000 crore in 5 years to ramp up e-waste, battery recycling capacity
Electronic waste and battery recycling company Attero plans to invest around Rs 8,300 crore in the next five years to ramp up its capacity, the company's CEO and Co-Founder Nitin Gupta said. At present, the company has the capacity to recycle up to 1,44,000 tonnes of electronic waste (e-waste) and 15,000 tonnes of lithium-ion battery annually.
«In the next five years, we will obviously be investing roughly around USD 1 billion overall, including all forms of capital — debt, equity and sort of other non-diluted forms of capital,» Gupta told PTI.
He said that the company is growing 100 per cent year-on-year and gradually increasing capacity.
«A greenfield facility in Europe will come up in Poland. Work has already started there. In India, we are building another greenfield facility. We are finalizing the space in Andhra Pradesh/Jharkhand. Our e-waste (recycling) capacity will get to roughly around 4,15,000 tonnes per annum. Our battery (recycling) capacity will broadly reach around 50,000 tonnes per annum in a year,» Gupta said.
The company has set a target to cross USD 2 billion, about Rs 16,500 crore revenue by 2027.
«Industry is growing at roughly around 30 per cent per annum. We are growing at more than 100 per cent YoY. We had revenue of around Rs 285 crore in financial year 2023 and Rs 440 crore in FY24. This year we expect to cross Rs 1,000 crore in revenue. To achieve the USD 2 billion target, we just need to invest a few hundred crores to ramp up capacity,» Gupta said.
He claimed that every other Indian
