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Balrampur Chini Mills has received an approval to enter a new line of business to manufacture Polylactic Acid (PLA), to be used for production of bioplastic. The Board of Directors of the Company in its meeting held on February 18, 2024, has accorded its approval for the same. The Board of Directors approved an estimated investment of Rs 2000 crore (Rs 800 crore to come from internal accruals and Rs 1200 crore through debt) in phases over a period of around 2.5 years. The expected benefits from the PLA project are significant, emphasizing that bioplastics are gaining momentum. The investment into PLA is seen as a substantial opportunity for the Company to achieve growth.
The government has been actively advocating for sustainable business practices in various forums, emphasizing the urgency of combating climate change impacts on the environment. Measures such as the prohibition of single-use plastics have been implemented to reduce carbon footprints. In the 2024 Budget, a significant step towards promoting green growth is highlighted with the introduction of a new scheme for bio-manufacturing and bio-foundry. This initiative aims to boost environmentally friendly alternatives like biodegradable polymers, bio-plastics, bio-pharmaceuticals, and bio-agricultural inputs. The overarching goal is to transform the current linear consumption manufacturing paradigm into one grounded in circular and regenerative principles.
This strategic shift is reflected in the company’s engagement with Polylactic Acid (PLA) and bioplastics using sugar as a raw material. Recognizing a unique opportunity, PLA offers dual benefits as a bio-based and biodegradable material, presenting a sustainable substitute for conventional plastics in various applications. This aligns seamlessly with its commitment to environmentally conscious practices and synergizes with its existing business model, contributing to a more sustainable and responsible approach to manufacturing.
Balrampur Chini Mills is one of the largest integrated sugar manufacturers in India. Its business portfolio consists of manufacturing and marketing of sugar, ethyl alcohol, ethanol, generation and selling of power and also manufacturing and marketing of organic manure.
| Company Name | CMP |
|---|---|
| Shree Renuka Sugar | 42.51 |
| Bajaj Hindusthan Sug | 33.04 |
| Triveni Engg. & Inds | 365.05 |
| Balrampur Chini Mill | 384.20 |
| Dalmia Bharat Sugar | 381.35 |
| View more.. | |
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