London-Based Odia To Invest Rs 125cr In Three Ventures

03 Feb 2025 CW Team

A London-based company has shown interest in setting up three projects to manufacture 100 per cent plastic-free bio bags, recycle lithium-ion batteries, and process maize seeds in Nabarangpur. The company, founded by Arun Kar, an Odisha native, will invest Rs 1.25 billion in these three projects.

He said the factory will produce bio-bags made from renewable resources like cornstarch, cassava, or sugarcane derivatives, which are fully biodegradable and compostable. This project, which may be established in the Jagatsinghpur district, will manufacture 200 tons of bio bags per annum. The plant will be operational within nine months.

The second project, a lithium-ion battery recycling plant, will address the growing need for sustainable waste management in the renewable energy and electric vehicle (EV) sectors. This initiative will be in collaboration with a UK/Canadian technology partner.

Critical materials like lithium, cobalt, and nickel can be recovered from used batteries using advanced recycling technologies.. This Rs 50-crore project promotes a circular economy by reusing materials and reducing dependency on raw material imports. It will create direct employment for 100 workers and 200 indirect jobs in logistics and supply chain operations.

The third project, a maize seed processing unit, will be established in Nabarangpur district with an investment of Rs 25 crore. The deadline for the project is nine months. It aims to boost agricultural productivity and empower local farmers, especially tribal communities. The company will source maize directly from local farmers, ensuring fair prices and reducing post-harvest losses.

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