October 30, 2023
North Carolina Railroad Company Invests $500,000 for New EV Battery Plant at Mid-Atlantic Industrial Rail Park in Brunswick County, N.C.
The North Carolina Railroad Company (NCRR), a private corporation that owns and manages a 317-mile rail corridor, is one of several partners named in the recent announcement that Epsilon Advanced Materials will establish a new manufacturing facility at the Mid-Atlantic Industrial Rail Park in Brunswick County, N.C. In total, the project will bring $649.9 million in investments to the area, as well as 500 jobs with an average annual wage of $51,430.
Epsilon Advanced Materials, headquartered in Mumbai, India, is a leading global battery material manufacturer that delivers high-performance, high-capacity, and green battery materials. Supported by the US Inflation Reduction Act (IRA), this investment marks the largest Indian venture in the US EV battery industry to date, with the facility expected to be operational by 2026.
Through NCRR’s economic development initiative, NCRR Invests, the company is investing approximately $500,000 to assist with the design and construction of on-site rail infrastructure and rail spur for CSX, a leading supplier of rail-based freight transportation in North America, to serve the facility. This will increase annual activity by a minimum of over 3,400 rail cars.
“NCRR is thrilled to be part of yet another deal to make North Carolina a hub for electric vehicle manufacturing,” said Carl Warren, President and CEO of NCRR. “Our NCRR Invests program is uniquely positioned to help bring projects like this over the finish line by supporting rail infrastructure needs.”
Additional project partners include the Economic Development Partnership of North Carolina (EDPNC), the North Carolina Department of Commerce, CSX, Brunswick Business & Industry Development, the Brunswick County Government, Duke Energy, Brunswick Community College, and others.