"Grasim Secures ₹1,250 Crore Investment from IFC for Green Energy Projects"

Grasim Industries, a prominent member of the Aditya Birla Group, has successfully raised ₹1,250 crore from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. This investment marks a significant step towards advancing sustainability initiatives within Grasim's operations.

IFC's investment will be directed towards subscribing to Grasim's Sustainability-Linked Non-Convertible Debentures, aimed at financing green energy projects in the paint manufacturing business. The infusion of funds from IFC is expected to accelerate Grasim's decarbonization efforts by promoting the adoption of renewable energy sources and water recycling techniques in the paint manufacturing process.

Kumar Mangalam Birla, Chairman of the Aditya Birla Group, has outlined an ambitious target of generating revenue amounting to ₹10,000 crore within three years of full-scale operations of Birla Opus, the decorative paint business. As part of this endeavor, all six manufacturing plants are slated to achieve full sustainability, with zero liquid discharge. These plants will be equipped with fourth-generation manufacturing technology to optimize supply chain processes, ensuring lightning-fast operations, zero defects, and end-to-end traceability.

HK Agarwal, Managing Director of Grasim Industries, emphasized the company's commitment to addressing the transition to a low-carbon economy through renewable projects and energy-efficient products. Agarwal expressed eagerness to align Grasim's activities with global Sustainable Development Goals, further underscoring the company's dedication to environmental stewardship.

Wendy Werner, IFC's India Country Head, hailed the investment as a catalyst for encouraging other manufacturing companies to adopt energy-efficient and water-saving technologies and practices. She highlighted the longstanding partnership between IFC and the Aditya Birla Group, spanning nearly three decades, and emphasized the importance of this collaboration in driving sustainable development initiatives forward.

HBL