Published On:February 20 2024
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BCML Unveils ₹2,000 Crore Capex Plan for India's First Industrial Bioplastic Plant

BCML Unveils ₹2,000 Crore Capex Plan for India's First Industrial Bioplastic Plant

Balrampur Chini Mills Limited (BCML), a prominent integrated sugar mill company, made a significant announcement on Monday, revealing plans for a Rs. 2,000 crore forward integration project. This initiative will establish India's inaugural "industrial bioplastic" plant, setting a milestone in the nation's sustainability efforts to combat climate change.

According to BCML, the forthcoming PLA (Polylactic Acid) manufacturing venture represents a strategic diversification in alignment with India's sustainability objectives. Avantika Saraogi, Executive Director of Balrampur Chini, highlighted the project's commitment to propel India towards achieving net zero emissions by 2070, with an estimated investment of Rs 2,000 crore spread across phases over the next 30 months.

Expected to be completed within this timeframe, the new venture will mark the establishment of India's first industrial bioplastic plant, boasting a state-of-the-art PLA factory with a staggering global-scale capacity of 75,000 tonnes per annum.

While the exact location of the project is yet to be finalized, BCML officials indicated that it will be situated on a "greenfield site" adjacent to an existing sugar plant. The company, which owns about ten sugar mills in Uttar Pradesh, emphasized the advantage of utilizing existing local infrastructure at these sugar mill locations for efficient sugar utilization as a raw material in PLA production.

Commenting on the project's significance, Vivek Saraogi, CMD of Balrampur Chini, underscored the role of PLA in providing a sustainable alternative to traditional plastics, aligning with the company's eco-friendly initiatives and fostering innovation in plastic production.

Furthermore, BCML's minority stake acquisition in Konkan Speciality Polyproducts Private Limited (Konspec), a notable player in specialty polymers & biopolymers, intermediaries, and chemicals, has facilitated this venture, the statement noted.

The introduction of bioplastics heralds a pivotal shift towards circular and regenerative principles in manufacturing, aiming to replace a significant portion of India's current Single Use Plastic (SUP) consumption and applications with PLA and PLA compounds, officials added.

With the appointment of Stefan Barot as the President (Chemicals) and a member of the senior management team, bringing over 35 years of diverse global experience, including 13 years in the bioplastic sector, BCML signals its commitment to driving innovation and sustainability in India's economic landscape through the PLA project.

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