Vedanta acquires Goa-based nickel and cobalt manufacturer Nicomet

24 Dec 2021 CW Team

Vedanta Limited has acquired Goa鈥檚 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.

Infrastructure Urban

16 Jun 2025

MoHUA Plans New Role for Smart City SPVs

In a significant policy move, the Ministry of Housing and Urban Affairs (MoHUA) has issued an advisory encouraging the continued use and repurposing of Special Purpose Vehicles (SPVs) formed under the Smart Cities Mission (SCM). This marks a step toward sustaining urban transformation by leveraging institutional capabilities and infrastructure developed over the past decade.Initiated in 2015, the Smart Cities Mission introduced a new era of urban planning in India, with each of the 100 selected cities forming SPVs under the Companies Act, 2013. These entities, jointly owned by state government..

Infrastructure Urban

16 Jun 2025

ADB Approves $110 Million Loan to Boost Skills in Gujarat

The Asian Development Bank (ADB) has approved a USD 109.97 million (Rs 9.27 billion) results-based loan to support Gujarat鈥檚 efforts to become a global industrial hub by developing a future-ready, skilled workforce.The funding will back the Gujarat skills development programme, led by the Department of Labour, Skill Development and Employment in collaboration with Kaushalya: The Skill University (KSU). The initiative aims to equip the workforce with advanced, industry-aligned skills to meet rising employment demand in high-growth sectors.According to ADB, the programme seeks to strengthen in..

Infrastructure Urban

16 Jun 2025

SDAL Tests Rudrastra UAV and Bhargavastra Defence System

Solar Defence and Aerospace Limited (SDAL) has successfully completed a key flight test of its indigenous Hybrid VTOL UAV Rudrastra at the Pokharan Firing Range, aligning with Indian Army performance benchmarks for mission adaptability, high endurance, precision engagement, and vertical take-off and landing (VTOL) capability.The trial marks a notable achievement in India鈥檚 Aatmanirbhar Bharat initiative, underscoring advancements in home-grown military technology. The Rudrastra UAV demonstrated a mission radius exceeding 50 km with uninterrupted video relay, a total operational range of over..