Balrampur Chini Mills Limited (BCML), a number one built-in sugar mill firm on February 19 introduced a â¹2000 crore ahead integration venture which would be the first-ever “industrial bioplastic” plant in India.
The Kolkata-based firm mentioned this diversification with its upcoming PLA (Polylactic Acid) manufacturing enterprise is well-aligned with the sustainability targets envisioned in India, to fight local weather change.
“The new project aims to propel India towards net zero emissions by 2070 with an estimated investment of â¹2,000 crore in phases over the next 30 months,” Balrampur Chini Executive Director Avantika Saraogi mentioned.
“Expected to be completed within 30 months, the new venture will mark the establishment of the first-ever industrial bioplastic plant in India. The state-of-the-art PLA factory will command a whopping capacity at a global scale of 75’000 tonne per annum,” the corporate mentioned.
Despite not but being finalized, the venture can be situated on a “greenfield site”, beside an present sugar plant. There are about ten sugar mills owned by the corporate, all of that are in Uttar Pradesh.
Officials mentioned, a major proportion of the native infrastructure already exists on the sugar mill places and it’ll assist environment friendly utilization of sugar as a uncooked materials, to supply PLA.
“PLA provides a sustainable alternative to traditional plastics, supporting our eco-friendly initiatives and advancing our business model towards sustainability.
Balrampur Chini’s project aims to lead the way in reducing carbon emissions and promoting innovation in plastic production,” Balrampur Chini CMD Vivek Saraogi mentioned.
The new enterprise can also be facilitated by BCML’s minority stake acquisition in Konkan Speciality Polyproducts Private Limited (Konspec), a notable participant in the sphere of specialty polymers & biopolymers, intermediaries, and chemical compounds, the assertion mentioned.
The bioplastics marks the onset of a major shift from the present linear consumption manufacturing paradigm to the one, led by round and regenerative rules. Additionally, most of India’s present SUP (Single Use Plastic) consumption and its respective purposes might be changed by PLA and PLA compounds, officers mentioned.
“We see the utilisation of sugar as a raw material in PLA production as pivotal for a sustainable future. Through the PLA project, our goal is to not only drive financial growth but also redefine standards in India’s sustainable economic landscape,” Saraogi mentioned.
The firm mentioned it has roped in Stefan Barot because the President (Chemicals) and a member of the senior administration personnel, who brings over 35 years of numerous international expertise, together with 13 years in the bioplastic sector.
