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According to a top company official, Ram Charan, a little-known Chennai-based chemicals trader that has recently been developing technologies and equipment to convert industrial and municipal waste into energy that leaves no residues, is investing Rs 15,000 crore to set up two such manufacturing plants in Tamil Nadu and Gujarat.
While the Tamil Nadu facility will be located in the Rameshwaram district on a 70-acre plot that will be obtained by the end of the month, the Gujarat plant will be located in the Kutch district on a similar sized property that will be acquired by the end of the month or early next month.
Both facilities would cost Rs 7,500 crore each and will be operational in the third quarter of 2022, according to Kaushik Palicha, a director of the firm and the third generation of the founding family, who spoke to PTI from Chennai.
Palicha's father was from Gujarat's Kutch area and had relocated to Kerala's Alleppey in the early twentieth century, then to Madras (now Chennai) in the 1950s, where they began trading chemicals in 1965.
Prior to pursuing deep-tech research in 2016, they established a joint venture in Baroda with Japanese business Shinji Kato to produce specialty plastic components.
Ram Charan's research and development is focused on developing end-of-life chemicals, converting unsegregated waste into energy, and manufacturing next-generation energy storage devices, which is why the American fund TFCC International chose such a high valuation and equity partnership for USD 4.14 billion.
He went on to say that its waste-to-energy goods and services are offered under the brand name 'Entity One,' and that it leaves no leftover trash.
In early December 2021, Ram Charan announced a USD 4.14-billion investment from the New York-based impact fund TFCC International for a 46% equity stake, valuing the firm at roughly USD 9 billion and making it one of the country's largest private equity investments.
Ram Charan's research and development is focused on developing end-of-life chemicals, converting unsegregated waste into energy, and manufacturing next-generation energy storage devices, which is why the American fund TFCC International chose such a high valuation and equity partnership for USD 4.14 billion.
He went on to say that its waste-to-energy goods and services are offered under the brand name 'Entity One,' and that it leaves no leftover trash.
In early December 2021, Ram Charan announced a USD 4.14-billion investment from the New York-based impact fund TFCC International for a 46% equity stake, valuing the firm at roughly USD 9 billion and making it one of the country's largest private equity investments.
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