ITC, Harita JV to develop biopolymer paper products

Chennai : The Northern Technologies International Corporation and Harita NTI (HNTI), a TVS group company, have signed an MoU with the BSE-listed ITC Limited to jointly develop and commercialise biopolymer-paper products targeted at the burgeoning consumer goods packaging market in India. Northern Technologies and Harita are manufacturers of sustainable biobased and certified compostable bioplastic materials. According to company release, the two companies are jointly developing solutions for the Indian market towards providing biodegradableôcompostable products such as food service ware, food packaging, personal care product packaging and other fast-moving consumer goods packaging.

NTIC’s biopolymer technology platforms, manufactured in India by HNTI, will be integrated with paper manufactured by ITC’s Paperboards and Specialty Papers Division (PSPD). Both companies will also jointly develop and promote joint branding and messaging for these products. “The alliance promises to bring significant benefits to both parties as it creates a portfolio of sustainable environment friendly alternatives to conventional plastic products" said N Sriram, president of Harita NTI. The existing market for flexible packaging in India is estimated at about $2.8 billion and is expected to grow by at least 14-15 per cent annually in the foreseeable future fuelled primarily by the enormous demand for consumer packaged goods by India’s growing middle class, according to company’s official statement. The development of biopolymer paper products becomes important given the growing opposition for the use of conventional plastics such as polyethylene and polypropylene in flexible packaging due to environmental and waste-disposal concerns.