The London-based private investment firm, Finnest has announced a strategic investment of USD 100 Million for setting up an EV unit in Ganjam, Odisha. The firm, owned by Odia Entrepreneurs Biswanath Patnaik and Arun Kar, will invest in developing a hydrogen-based dual-fuel EV truck and a biodegradable bag manufacturing unit.
The agreement for the project was recently signed between Finnest and ZCT (the project execution firm) at the Carlton Clun in London. Through this project, the firm aims to support the development of clean energy solutions in the state with high potential for renewable energy generation and consumption.
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Arun Kar, MD of Finnest, said this is a landmark deal for the battery industry and the environment.
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