A significant boost to Green Energy Projects at Grasim
Grasim Industries, a prominent member of the Aditya Birla Group, has successfully raised ₹1,250 crore from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. The investment comes from sustainability-linked, non-convertible debates and will be directed toward Green Energy Projects within Grasim’s paint manufacturing business.
Accelerating Decarbonization Efforts
IFC’s infusion of funds will propel Grasim’s journey toward decarbonization by facilitating the adoption of renewable energy sources and implementing water recycling practices in paint manufacturing. This strategic investment underscores Grasim’s commitment to sustainability and environmental stewardship.
Vision of Chairman Kumar Mangalam Birla
Chairman Kumar Mangalam Birla has outlined an ambitious vision for Grasim’s decorative paint business, aiming to achieve a revenue target of ₹10,000 crore within three years of full-scale operations of Birla Opus. With a focus on sustainability, all six manufacturing plants are slated to become fully sustainable, boasting zero liquid discharge and leveraging cutting-edge manufacturing technology for enhanced efficiency and traceability.
Transitioning to a Low-Carbon Economy
HK Agarwal, Managing Director of Grasim Industries, emphasized the company’s proactive approach in addressing the transition to a low-carbon economy. Grasim intends to achieve this by implementing renewable projects and developing energy-efficient products, aligning its activities with global Sustainable Development Goals.
Encouraging Industry-wide Adoption
Wendy Werner, IFC’s India Country Head, lauded the investment as a catalyst for encouraging other manufacturing companies to embrace energy-efficient and water-saving technologies. She highlighted the longstanding partnership between IFC and the Aditya Birla Group, spanning nearly three decades, and expressed confidence in the positive impact of this collaboration on sustainability initiatives.
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