Leading sugar manufacturer Balrampur Chini Mills Ltd. has declared a daring investment of Rs 1soil in a matter of days as opposed to centuries like conventional plastics.
The sugar producer, who has spent the last few years looking for expansion opportunities in adjacent regions, plans to build a 75,000 metric tonnes annual Poly Lactic Acid (PLA) factory next to its current facilities.
Packaging, textiles, automotive components and other uses for PLA are making it a more environmentally friendly option than conventional polymers.
Despite being created from renewable feedstock, such as corn and sugarcane, it is said to be more durable than standard plastics in some applications.
But the majority of plastics used today are made from petroleum and after usage, they are just thrown in landfills, where they can contaminate the land and water with dangerous chemicals. Occasionally, they find their way into the ocean, where they multiply and do much more destruction by transforming into tiny plastic particles that directly jeopardise human food security.
India has implemented policies to reduce the usage of conventional plastic that does not decompose, especially for single-use products like polythene covers.
"The company's decision to enter this segment was motivated by the fact that the global primary plastic production is currently around 400 million tonne per year, with a market value of over $1 trillion," stated Vivek Saraogi, Chairman and Managing Director of Balrampur Chini. "The primary uses of this material in daily life are as follows. Traditional plastics made from fossil fuels, while still useful, are not part of a circular economy.
Balrampur Chini has brought in Stefan Barot as President (Chemicals) and a member of the senior management team to spearhead the project. Prior to this, Barot served as chairman of European Bioplastics, a Berlin-based association of businesses in the bioplastics industry. Barot has over 35 years of varied international experience, including 13 years in the bioplastics industry.
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