Business
Yash Papers invests Rs 60 crores to set up India‘s Largest Compostable Tableware Plant
Mr. Ved Krishna, Head of Strategy at Yash Papers-Yash Papers invests Rs 60 crores to set up India’s Largest Compostable Tableware Plant
· The plant, based in Faizabad (UP), will have an installed production capacity of 10 lakh units per day
· New Product range made from sugarcane waste, offers food service and delivery solutions.
Mumbai, 21st September 2017: In a bid to promote the use of eco-friendly products in the food industry, paper manufacturing company Yash Papers today announced the launch of its new range of compostable, biodegradable and eco-friendly tableware range called Chuk made from sugarcane waste, Bagasse.
Based out of Faizabad, Uttar Pradesh, Yash Papers is India’s largest modern agro residue-based paper brands which manufactures kraft packaging material to chains like McDonalds, KFC and Pizza Hut.
Yash Papers has invested Rs 60 crores in setting up its new biodegradable plant, which has a state of the art facility that includes a production innovation centre. The plant based out of Faizabad(UP) currently has a production capacity of 10 lakh units per day and the company plans to double the capacity every year for the next 3 years. The company closed the financial year ended 2016-2017 in consolidated revenue of Rs 183 crore and is aiming to receive at least 50 % of their revenue from the new bio-degradable segment in the next three years.
India generates over 15,000 tonnes of plastic on a daily basis. Packaging represents the single-largest sector of plastics use and accounts for 35 per cent of plastic consumption. In a bid to reduce the food industry’s dependency on plastic, Yash Papers developed a modular cost effective design priced between Rs 1 to Rs 7 which is actually cheaper than plastic.
The launch commenced with a Panel Discussion held in the city on ‘Promoting sustainability in Food Industry”. The panelists comprised of food influencers and TV show hosts Rocky Singh and Mayur Sharma, Anna Warrington , Director, Forum for the future, Mr. Kunal Suri, COO, foodpanda, Srishti Jain, Feeding India and Riyaz Amlani, CEO, Impresario . The discussion focused on the relevance of eco-friendly food packaging for healthy eating and progressive steps taken by the Maharashtra government in banning plastics in the city.
Speaking on the launch of the eco-friendly range Mr. Ved Krishna, Head of Strategy at Yash Papers, said, “We end up consuming so many carcinogens without any awareness through the thermocol and plastic products we are served on and then these products are disposed damaging the ecology. It is time to embrace products that will enable us to eat safe and benefit the planet when disposed“
In order to bring in a better process in the growth of sustainable packaging solutions in India , the company last month also announced a strategic tie up with food delivery platform, foodpanda. The initiative enables foodpanda’s partner base of 15000+ restaurants to offer its customers food in environment friendly packaging.
Yash Papers is committed to raising awareness against the use of plastics and the harm it causes to the ecosystem. Their product design philosophy is to do justice to the form and function while keeping it fun and playful to enhance the food experience and protect the food when using Chuk Tableware.
