Tracked stocks: Balrampur Chini Mills signs memorandum of understanding with UP government
Balrampur Chini’s shares will focus on Wednesday (May 28) meeting on Dalar Street.
On Tuesday, the company signed an agreement with the Uttar Pradesh government to establish a 250 TPD small lactate (PLA) plant in its Kumbhi Chini Mills unit in Lakhimpur Kheri.
According to the company, it has signed a Memorandum of Understanding (MOU) with the state government, investing Rs 28.5 crore.
Chief Secretary Manoj Kumar Singh said: “Uttar Pradesh continues to lead sustainable industrial development. This significant investment not only promotes green technology, but also strengthens the state’s attractiveness as a major investment destination.”
Invest UP CEO Anand Vijay Kiran Anand and Balrampur Chini Mills Ltd’s executive director Avantika Saraogi signed a memorandum of understanding in Mumbai on Tuesday.
Vivek Saraogi, MD, chairman and MD, Balrampur Chini Mills, said the company is committed to promoting bioplastic innovation and contributing to a sustainable future.
Anand also stressed that the initiative is aligned with the vision of Chief Minister Yogi Adityanath, even if Uttar Pradesh becomes a leading investment hub and advances to a million dollar economy through sustainable industrial growth.
