Delhi-based high-end speciality chemicals manufacturer Vikas Ecotech Limited is planning to invest in environment-friendly BioPlastics (PHA) technology. PHAs are biopolymers synthesized by various types of bacteria and are bio-degradable in nature, produced from renewable resources through an eco-friendly process.
The company in a statement said that it is in advanced stages of finalizing a technology tie-Up/Joint Venture with Aurapha Private Ltd. (the ‘AuraPHA’) to produce Biodegradable Plastics.
Aurapha Private Limited is a registered entity in Virudhunagar, Tamil Nadu, India founded by renowned microbiologist Dr. P. Murugan who has been awarded an international grant to develop necessary technologies to produce PHAs on an industrial scale.
Vikas Ecotech Limited is listed on the Indian Stock Exchange (BSE & NSE) and has a net worth of 128.64 crore as of March 2021.