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Money > Business Headlines > Report June 16, 2001 |
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Green Reliance working on bio-degradable plasticsRaksha Hegde The Reliance Group, as part of its forays into biotechnology, is working on a project to make polymers bio-degradable. The research aims at working a way around the problem of disposal of plastics. The polymer does not get absorbed back into the ecosystem and has been a bone of contention with environmentalists the world over. Sources said that a group of around 50 scientists are attached to the project, work on which is reportedly going on at Reliance Biotech's Bangalore centre. A company spokesperson, however, declined to comment on the issue. Analysts tracking the sector said, "For Reliance Biotech, this would do wonders. It is a project on which they could even get a patent." It will be a coup for the Reliance Group if they manage it as bio-degradable plastics would be of international interest, analysts added. The move to develop bio-degradable plastics comes close on the heels of Reliance Biotech plans to produce synthetic skin. Reliance vice-chairman Mukesh Ambani has reportedly evinced interest in the skin grafting segment, which can also be used for commercial applications. Reliance Biotech currently has two R&D centres, in Bombay and Bangalore. Environmentalists have been up in arms in the last few years against the use of plastic bags. In developed countries, use of plastic bags has been discontinued, and has been replaced by the brown-paper packets and recycling of plastic cans has been encouraged. In Indian metros too, retailers and vendors have been banned from using coloured plastic bags. However, initial adherence to the rule has worn off with the vendors. Biotech and the bioinformatics market in India is an area, which is thriving with the estimated market size pegged at $2.5 billion. YOU MAY ALSO WANT TO READ:
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