Vikas Echotech ties with AuraPHA to produce biodegradable plastics

18 Jan 2022 , 11:54 AM

Vikas Echotech Limited announces its investment in environment-friendly BioPlastics (PHA) technology and is finalizing a Technology Tie-Up/Joint Venture with Aurapha Private Ltd. (the ‘AuraPHA’) to produce Biodegradable Plastics.

The company believes that concerns over the impact of the conventional plastic material on the environment are rising, and the right solution will be to adopt plastics such as Poly-Hydroxy-Alkanoates (PHA). PHAs (synthesized biopolymers) are bio-degradable in nature, as they are produced from renewable resources following an eco-friendly process. The company endeavours to develop eco-friendly viable alternatives and have been continuously working its way through it.

Realizing the high potential of the environmentally friendly BioPlastics concept, the company has decided to invest in that direction and to make way through it is eyeing a Joint Venture with AuraPHA to produce biodegradable plastics. Initially, it will set up a pilot plant for producing Biodegradable plastics, which shall further be upscaled by significant investments in well-organized tranches.

Vikas Ecotech is also exploring various proposals for the acquisition of necessary technology to produce PBAT (Polybutylene adipate terephthalate), specifically to manufacture environment-friendly carry bags, which are currently made of conventional plastic causing distress to the environment.

Defence Research and Development Organization (DRDO), Ministry of Defence, Government of India has developed certain technologies for developing Bio-degradable polymer granules of PBAT (Polybutylene adipate terephthalate) to manufacture bio-degradable carry bags, and Vikas Echotech will be taking up this opportunity by submitting an expression of interest for obtaining the same.

AuraPHA or say Aurapha Private Limited is a registered entity in Virudhunagar, Tamilnadu, India founded by renowned microbiologist Dr. P. Murugan, (Ph. D in Microbiology from The University of Science, Malaysia) who has been awarded an international grant to develop necessary technologies to produce PHAs on an industrial scale.

Vikas Ecotech is currently trading at Rs4.94 up by Rs0.23 or 4.88% from its previous closing of Rs4.71 on the BSE. The scrip opened at Rs4.94 and has touched a intraday high and low of Rs4.94 and Rs4.94 respectively.