Stock to Track: Balrampur Chini Mills signs MoU with UP government

Balrampur Chini shares are set to be in focus on Wednesday's (May 28) session on Dalal Street.

On Tuesday, the company signed an agreement with the Government of Uttar Pradesh to establish a 250 TPD polylactic acid (PLA) plant at its Kumbhi Chini Mills unit in Lakhimpur Kheri.

According to the company, it has signed a memorandum of understanding (MoU) with the state government for an investment of Rs 2,850 crore.

"Uttar Pradesh continues to lead in sustainable industrial development. This significant investment not only promotes green technology but also reinforces the state's appeal as a prime investment destination," said Chief Secretary Manoj Kumar Singh.

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

Vivek Saraogi, Chairman & MD of Balrampur Chini Mills stated that the company is committed to driving innovation in bioplastics and contributing to a sustainable future.

Anand also highlighted that the initiative is aligned with Chief Minister Yogi Adityanath’s vision of making Uttar Pradesh a leading investment hub and advancing toward a one-trillion-dollar economy through sustainable industrial growth.