Latest News | Balrampur Chini Mills Signs MoU with UP Govt for Polylactic Acid Plant with Rs 2,850-cr Investment

Lucknow, May 27 (PTI) Balrampur Chini Mills Ltd on Tuesday said it has signed an initial agreement with the Uttar Pradesh government to establish a 250 TPD polylactic acid (PLA) plant at Kumbhi Chini Mills in Lakhimpur Kheri.

Balrampur Chini Mills has signed a Memorandum of Understanding (MoU) with the UP government to this effect, a company release said.

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The agreement marks an investment of Rs 2,850 crore and is expected to generate 225 new employment opportunities in the state.

The project is set to commence operations this month.

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"Uttar Pradesh continues to lead the way in sustainable industrial growth. This landmark investment by Balrampur Chini Mills not only strengthens our commitment to green technology but also reinforces our position as India's preferred investment destination," Chief Secretary Singh said.

The MoU was signed in Mumbai on Tuesday, between CEO, Invest UP Anand Vijay Kiran Anand, Balrampur Chini Mills Ltd Executive Director Avantika Saraogi in the presence of state Chief Secretary Manoj Kumar Singh.

Vivek Saraogi, Chairman and Managing Director of Balrampur Chini Mills Ltd, expressed confidence in the collaborative efforts with the state government, stating, "We aim to drive innovation in bioplastics and contribute to a greener future."

Vijay Kiran Anand emphasized that this project aligns with Chief Minister Yogi Adityanath's vision to position Uttar Pradesh as a preferred investment destination and achieve a one-trillion-dollar economy through sustainable industrial development.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)