Chennai-based Harita NTI, a TVS Group Company plans to manufacture base resins from bio-mass. Harita NTI, a 50:50 JV between TVS and Northern Technologies International Corporation of the US, will employ polymer energy technology to convert waste plastic to crude oil and biodegradable and biobased plastics. The bio-degradable and bio-based polymer technology has been brought in by the principals, Northern Technologies International Corp under the brand 'Natur-Tec. The company plans to invest around Rs 70 crore over three projects, upon completion of the backward integration process. The plant will initially use 7-8 tons of waste plastic per day to generate an output of 5-6 tons of crude oil. Scaling of investments will be based on market feedback and surveys.
The new project has been allotted 5 acres in Oragadam industrial area, near Chennai. An additional 15 acres of land is being sought from SIPCOT to set up a greenfield project to indigenously manufacture base resins.
The new project has been allotted 5 acres in Oragadam industrial area, near Chennai. An additional 15 acres of land is being sought from SIPCOT to set up a greenfield project to indigenously manufacture base resins.
