Argus Partners Advised BCML In Establishing India's First Industrial Bioplastic Plant
Argus Partners Advised BCML In Establishing India's First Industrial Bioplastic Plant
Argus Partners has advised Balrampur Chini Mills Limited (BCML), one of the country's largest integrated sugar mill companies, in the establishment of India's first-ever industrial bio-plastics manufacturing plant.
The project involved the execution of definitive agreements between BCML and Sulzer AG, Alpine Engineering GmbH, and Jacobs Solutions India Private Limited. This collaborative effort is poised to inaugurate India's first industrial bio-plastic plant, heralding a new era of innovation in plastic production. This initiative is in line with India's sustainability objectives aimed at combating climate change.
With an estimated capital expenditure of Rs. 2,000 crores, the PLA plant is projected to have an annual production capacity of 75,000 tonnes of PLA. The production process will utilize PLA grade lactide acid derived from sugar, underscoring the plant's environmentally friendly approach by utilizing renewable resources.
The establishment of India's first industrial bio-plastics manufacturing plant signifies a significant step towards fostering innovation and sustainability in the country's industrial landscape. It reflects a proactive effort by BCML and its partners to contribute to the global movement towards eco-friendly alternatives and reduce the environmental impact of plastic waste.
The Argus Partners team, led by Arka Majumdar, Rachika A. Sahay (Partners), Siddhant Satapathy, Juhi Wadhwani (Senior Associates) and Mrinal Mishra (Associate) played a crucial role in advising BCML throughout the process. Their expertise and guidance have been instrumental in navigating the legal complexities associated with such a ground breaking project.
As India continues to prioritize sustainability and environmental conservation, initiatives like the establishment of the PLA plant underscore the country's commitment to embracing innovative solutions for a greener future. Argus Partners' involvement in this pioneering endeavor reaffirms its position as a trusted advisor in facilitating transformative projects in the realm of sustainability and corporate innovation.
