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Green Bioplastics: India's Soil Certified
10 May
Summary
- Company raises Rs 450 crore equity for new bioplastic plant.
- PLA biodegradable in Indian soil without harmful microplastics.
- New plant to produce gypsum boards from PLA byproduct.
Balrampur Chini Mills has successfully raised Rs 450 crore through a preferential share issue to support significant expansion and growth initiatives. The company is investing in a new poly lactic acid (PLA) manufacturing plant in Uttar Pradesh, with capital expenditure revised to nearly Rs 3,100 crore. Additionally, Rs 160 crore will be allocated to establish a lactogypsum processing plant.
This strategic expansion includes developing bio-plastic products, with the PLA plant anticipated to be operational in 2026. The company has already secured its first institutional order for compostable garbage bags. A recent scientific study by CIPET confirms that PLA degrades safely in Indian soil conditions, mitigating concerns about microplastic pollution.
The lactogypsum plant, with an annual capacity of approximately 76 lakh gypsum boards, will process a byproduct from the PLA manufacturing. Both plants are expected to become significant revenue contributors for Balrampur Chini Mills, reinforcing its commitment to sustainable alternatives in the packaging industry.
