Ram Charan To Invest Rs 15K Crore To Set Up Plants In TN, Gujarat

Ram Charan — the little-known Chennai-based chemicals trader which, of late, has been developing technologies and equipment to convert industrial and municipal waste into energy that leave no residues — is investing Rs 15,000 crore to set up two such manufacturing plants in Tamil Nadu and Guajrat, a top company official has said.

While the Tamil Nadu unit will come up in the Rameshwaram district on a 70-acre land which will be acquired by the end of the month, the Gujarat plant will come on a similar sized plot in the Kutch district and the land for the same should be acquired by the end of the month or early next month.

Both the plants will see an investment of Rs 7,500 crore each and will be up and running in the third quarter of 2022, Kaushik Palicha, a director of the company, and the third generation of the founding family, told PTI from Chennai.

Palicha’s father had hailed from the Kutch region of Gujarat and had moved into Kerala’s Alleppey in the early part of the last century and then moved onto Madras (now Chennai) in the 1950s where they began chemicals trading in 1965.

Before entering deep-tech research in 2016 they had set up a joint venture with Japanese firm Shinji Kato in Baroda to manufacture speciality plastic components.

Ram Charan's R&D is focused on developing end-of-life chemicals converting unsegregated waste into energy and manufacturing new-generation energy storage devices — the primary reason for the American fund TFCC International to go for such a high valuation and equity partnership for $4.14 billion.

Its waste-to-energy products and services are delivered under the brand name 'Entity One' and does not leave any residual waste, he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor