The 1,000 tons/year facility could be operational by the end of 2019, cost around Rs 15 crore ($2.1 million) and create 150-200 jobs.
“Our group has realized the need to bring out environment-friendly bags/packaging to replace plastic and polythene bags,” Eaglesford director Aaryan Kunder tells Telangana Today. “We have identified Biogreen as an Indian partner with whom we intend to make products in India to meet the needs of domestic market as well as catering to the overseas markets. We are finalizing the modalities of the joint venture and investment contribution. While a major portion of investment could come from us, Biogreen will offer its technology expertise and know-how. The revenue sharing is still being worked out.”