The shares of Praj Industries Limited were trading at ₹800.30, down by ₹2.65 or 0.33 on the NSE today at 10:25 am.
Praj Industries Limited unveiled India’s first demonstration facility for biopolymers at Jejuri near Pune on October 13, 2024, marking a significant step in domestic bioplastic production. The facility, inaugurated by Science and Technology Minister Jitendra Singh, showcases the company’s indigenous Polylactic Acid (PLA) technology.
The new facility spans three acres and has production capacities of 100 tonnes per annum for Lactic Acid, 60 tonnes for lactide, and 55 tonnes for PLA. It includes fermentation, chemical synthesis, and purification sections.
The development addresses India’s growing plastic waste challenge, where only 3.4 million tonnes of the 9.3 million tonnes of annual plastic waste are collected for processing. The facility aligns with the government’s recently announced Bio-E3 Policy and Bio-RIDE scheme aimed at advancing biotechnology research and innovation.
Pramod Chaudhari, Founder Chairman of Praj Industries, revealed that this initiative is part of the company’s strategic diversification beyond bioenergy solutions, which began during the Covid-19 pandemic in 2020. The project represents Praj’s expansion into renewable chemicals and materials through its Bio-Prism portfolio, complementing its existing Bio-Mobility biofuels business.