Page 140 - CW E-Magazine (15-10-2024)

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REGULATORY ENVIRONMENT

Balrampur Chini Mills welcomes UP Government’s

bioplastic policy

Balrampur Chini Mills Ltd. “The Uttar Pradesh Government’s
(BCML), one of India’s leading inte- bioplastic policy is a visionary step in
grated sugar producers, has welcomed the right direction. The widespread use
the Uttar Pradesh (UP) Government’s of conventional plastics has exacerbated
comprehensive bioplastic policy, which our carbon footprint, making a shift
aims to tackle plastic pollution by towards bioplastics essential. With India
promoting eco-friendly alternatives, being the second largest producer of
such as bio-based and biodegradable sugarcane, a major biomass source for
plastics. bioplastics, this policy not only helps
reduce plastic waste but also strengthens
BCML is setting up India’s fi rst India’s path to a circular economy,”
industrial polylactic acid (PLA) manu-  Interest subvention for seven years; said Mr. Vivek Saraogi, Chairman and
facturing plant with a capacity of  100% reimbursement of SGST for Managing Director, BCML. “This policy,

75,000-tpa adjacent to the company’s 10 years; and alongside the Central Government’s
Kumbhi Sugar mill in UP.  Stamp duty exemption or remission BioE3 framework, offers a comprehen-
to transactions made one year before sive regulatory environment to promote
The newly approved policy offers or after the policy cutoff date. bio-manufacturing and energy indepen-
incentives such as: dence. We believe this strategic inter-
 Subsidy of up to 50% of capital invest- The overall benefi ts under the policy vention will attract signifi cant invest-
ment for seven years for companies are not to exceed 200% of the invest- ments in the bioplastics sector and drive
investing Rs. 1,000-crore or more; ments made. India towards a greener economy.”

CRITICAL MINERALS
NMDC eyes lithium block acquisition in Australia

and Africa

India’s largest merchant iron-ore So far, KABIL – a state-owned
miner, NMDC Ltd., is eyeing “stra- PSU – has been successful in securing
tegic acquisition” of lithium blocks lithium reserves overseas. Earlier this
in Australia and Africa and is carry- year, it acquired fi ve lithium blocks in
ing out “due diligence” of potential Argentina and recently obtained “non-
assets in these countries, the com- invasive” exploration permission for
pany’s Chairman-cum-Managing these blocks.
Director (Additional Charge) and
Director of Finance, Mr. Amitava Australia and Africa, positioning Exploring other minerals
Mukherjee, was quoted as saying in ourselves for strategic acquisitions,” Additionally, NMDC is diver-
an interview with Hindu Business- he said. According to Mr. Mukherjee, sifying its global footprint by
Line. NMDC is already engaged in exploring strategic minerals, in-
“advanced discussions with many cluding iron ore, bauxite, manga-
“Our lithium quest has gained companies” in Australia and Africa. nese, diamonds, and gold. Portfolio
significant momentum, with encour- “As these discussions unfold, we expansion will entail “acquiring
aging preliminary findings. We are will undertake further due diligence new areas”. “We anticipate these
conducting thorough reviews and to ensure strategic fi ts and maximise new operations to be ready beyond
due diligence on potential assets in value,” he noted. FY30,” he said.

140 Chemical Weekly October 15, 2024

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