India’s leading polystyrene producer Supreme Petrochem has inked an MOU with Italian chemicals maker Ultrabatch SRL to market their high end additive masterbatches for agriculture and horticulture in India. As part of the alliance, Supreme Petrochem will also market Ultrabatch products in India and overseas while Ultrabatch will promote Supreme Petrochem range of Masterbatches in parts of Europe.
"This partnership will not only provide us access to key international markets but will also enhance our technical know-how in plastic processing business to cater to the growing modernisation needs of the agriculture and horticulture sector,'' said M P Taparia, chairman, Supreme Petrochem Ltd. "this alliance is in line with our long term objective of moving up the value chain of petrochemicals business.”
The agricultural film business in India is in a nascent stage with a demand of 12,000 tpa, valued at Rs250 crore. Growing emphasis by the government to modernise agricultural and horticulture activities will propel aggregate growth of 15% pa in this sector.