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Private Sector | Multi State - India | PID: 202654
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Grasim Industries, an Aditya Birla Group company, has raised Rs 1,250 crore from the International Finance Corporation (IFC). The private sector arm of the World Bank Group will subscribe to Grasim’s sustainability-linked non-convertible debentures, to support investment for green energy projects in the company's paint manufacturing business.
All of its six manufacturing plants will be fully sustainable, with zero liquid discharge, and utilise fourth-generation manufacturing technology to manage supply chain with zero defects, and end-to-end traceability with greater speed. Grasim has set a revenue target of Rs 10,000 crore in three years of full-scale operations of Birla Opus, its decorative paint business.
As the company works to address the transition to a low-carbon economy through renewable energy (RE) projects and energy-efficient products, this investment will accelerate Grasim’s decarbonisation drive with increased adoption of RE and water recycling in the paint manufacturing process. The company aims to further align its activities with the global Sustainable Development Goals.
| Updated on: 21 - Mar - 2024
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