Covestro India with its sustainable housing solution caters to the underprivileged

Covestro, one of the world's largest polymer companies, handed over the key of the first of homes made using its eco-sensitive technology to the disadvantaged families in the national capital as part of its endeavour to promote sustainable living in the country. Along with Habitat for Humanity, Covestro aims to take up opportunities in India which caters to a social benefit.

New Delhi, Delhi, April 6, 2017 /India PRwire/ -- Covestro, one of the world's largest polymer companies, handed over the key of the first of homes made using its eco-sensitive technology to the disadvantaged families in the national capital as part of its endeavour to promote sustainable living in the country. Along with Habitat for Humanity, Covestro aims to take up opportunities in India which caters to a social benefit.

On the project, Ajay Durrani, Managing Director, Covestro India said, "Eco-sensitivity remains one of the most important goals that India must meet today in order to establish its image as a strong nation that is built upon the values of sustainable growth. The Housing For All is a segment that needs to also embed energy efficiency as part of its core offerings to ensure a brighter future for the society. Through this project, Covestro has once again demonstrated its commitment towards nurturing India for a better tomorrow using talented materials and technology."

This technology from Covestro complements Indian Governments future plan towards affordable housing. The government has assigned infrastructure status to affordable housing projects and has committed to facilitate higher investments in this concern so as to meet its objective to provide housing for all by 2022. This clubbed with India's mission to achieve sustainable growth post signing the Paris treaty has given the much-needed boost to the realty sector to adopt sustainability as one of the core pillars of growth.

Covestro has long been engaged in the sustainable construction of affordable homes through its global partnership with 'Habitat for Humanity'. Such initiatives provide a platform to demonstrate Covestro's innovations and strategic philosophy. Covestro constantly endeavours to unfold opportunities for new applications of its high-tech polymers, especially in the underdeveloped markets.

One such example is the usage of the award-winning composite three-layered panels in the affordable energy-efficient housing sector. Based on locally available materials which are also recyclable, Covestro partnered with Vaspar Eco Systems, Bangalore and Industrial Foams Pvt Ltd, Delhi to develop these panels which are aimed at making accessible technologically and socially relevant innovations.

These houses constructed using cement fibre board with PUF Polyurethane (it is essentially a technology that uses Cement Fiber Board, Polyurethane Foam and Paper Honeycomb)are fit-for-purpose to make the homes thermally comfortable and energy efficient. They are meant to withstand extreme weather conditions as well as disasters.

Last year, Covestro had partnered with the Rajasthan Housing Board and Podar's advisory division (PACE) to build homes using PIR panel that were energy efficient and which could withstand an earthquake up to 7 Richter scale. Such innovations help us to understand the diverse offerings which Covestro is able to bring to the marketplace based on the needs.

Notes to Editor

About Covestro:

With 2016 sales of EUR 11.9 billion, Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites around the globe and employed approximately 15,600 people (full-time equivalents) at the end of September 2016.

Find more information at: www.covestro.in

Forward-looking statements:

This press release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro's public reports which are available on the Covestro website at www.covestro.com. Covestro assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

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