Vedanta acquires Goa-based nickel and cobalt manufacturer Nicomet

24 Dec 2021 CW Team

Vedanta Limited has acquired Goa’s nickel and cobalt manufacturing company Nicomet Industries Limited.

Vedanta has become the only producer of nickel in India after this acquisition.

The company said that it is a step towards India's goal of self-reliance in critical minerals. It is in line with the company's environmental, social and governance (ESG) mission towards carbon neutrality goals.

Nickel is used in manufacturing stainless steel and electric vehicle (EV) batteries. Likewise, Cobalt is used in lithium-ion batteries for EVs, energy storage systems and superalloy for steelmaking. These metals are expected to play a leading role in clean energy and renewable energy.

India's nickel and cobalt imports are increasing steadily. After the acquisition, India will be in a better position to manufacture EV batteries, equipment of EVs, steel production, and the building block for infrastructure growth.

Nicomet Industries Limited in Goa is a leading producer of high-quality battery-grade nickel sulphate crystals for making EV batteries. The company has a capacity of 7.5-kilotonnes per annum (ktpa).

The demand for nickel in India has pegged at 45 ktpa through imports. Vedanta expects to cater to 50% demand for nickel in India. It will also play a critical role in supporting the government's Aatmanirbhar Bharat.

Image Source

Real Estate

11 May 2026

Danube Launches Greenz Villa Community in Dubai

Danube Properties has launched Greenz by Danube, a fully furnished master villa community in Dubai, unveiled by H.E. Sheikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Tolerance and Coexistence, at an event attended by over 7,000 investors and business leaders.Located near Dubai International Academic City and Dubai Silicon Oasis, the development marks Danube’s first large-scale integrated villa community and is positioned within one of Dubai’s emerging residential corridors.The project will comprise three and four-bedroom townhouses along with five-bedroom semi-detached and twin villas...

ABB Launches IE6 Motor for Hazardous Industrial Areas

ABB has introduced what it claims is the world’s first IE6 Hyper-Efficiency motor certified for hazardous industrial environments under ATEX and IECEx standards.The new Increased Safety motor is based on ABB’s synchronous reluctance (SynRM) technology and is designed without magnets or rare earth materials. According to the company, the motor reduces energy losses by up to 60 per cent compared to standard IE3 induction motors commonly used in hazardous areas.The motor is intended for use in industries such as chemicals, marine, oil and gas, pharmaceuticals and food and beverage, where expl..

Casagrand Launches 41-Acre Highcity Project in Chennai

Casagrand has launched Casagrand Highcity, a 41-acre integrated residential development on Chennai’s Outer Ring Road (ORR), marking the company’s largest residential project to date.The project will comprise over 4,000 two and three BHK apartments across four G+22 towers and is positioned as one of the largest organised residential developments in the ORR corridor.Located along Chennai’s emerging residential and infrastructure growth belt, the project benefits from connectivity to IT hubs including Navalur, Siruseri SIPCOT and Porur, as well as industrial clusters such as Sriperumbudur, ..