Reliance Industries Limited (RIL), India’s largest private sector company, is doubling its PET recycling capacity by setting up a recycled polyester staple fibre (PSF) manufacturing facility in Andhra Pradesh.
As a part of this endeavor, Srichakra Ecotex India Pvt Ltd, India’s leading plastic recycling and waste management company, will exclusively build and operate RIL’s new recycled PSF – Recron GreenGold and Polyethylene terephthalate (PET) flakes wash-line in Andhra Pradesh.
It has underwritten the entire production from Srichakra’s facility to provide support for development of the business
RIL’s initiative to more than double its recycling capacity to 5 billion post-consumer bottles will ensure India maintains over 90 per cent recycling rate. RIL is focusing on sustaining India’s post-consumer PET recycling rate which is currently the highest in the world.
RIL will empower entrepreneurs to divert post-consumer used packaging from landfills, setup recycling facilities and create wealth from waste throughout the country.
The expansion of PET recycling capacity is part of Mukesh Ambani’s vision to transform the legacy business into sustainable, circular and net zero carbon materials business and support the entrepreneurs to take risk throughout the value chain.
Reference- RIL Newsroom, Network18, The Hindu, Economic Times, Business Standard