Tokyo - Japanese electronics company Toshiba Corp Wednesday announced plans for a new plant producing rechargeable lithium-ion batteries to meet expected rising demand.

Construction work for the 300-million-dollar plant, Toshiba's second in Japan, is to start in autumn 2009 in Kashiwazaki in Niigata prefecture. Toshiba wants to begin production in 2010 to meet demand for batteries for industrial applications and vehicle technology, which is expected to rise significantly that year, the company said.

Toshiba wants to produce about 10 million units of a new type of battery, the so-called super charge ion battery, by 1015.

The market for such long-life fast rechargeable batteries is forecast to reach a volume of 19 billion dollars by 2015.

Toshiba plans to expand its presence in the battery market with industrial applications. Main rival Panasonic Corp, which is set to take over battery maker Sanyo Electric Co, is also putting increased focus on that segment. (dpa)