Reliance Industries Ltd’s initiative will ensure India maintains over a 90 percent recycling rate.
Reliance Doubling PET Recycling Capacity To Enhance Circular Economy Footprint
MUMBAI, India – Indian firm Reliance Industries Ltd ( RIL ) is doubling its PET plastic recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh.
Reliance Industries Ltd, India’s largest private sector company, said the move is part of its commitment to lead the industry on the circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain.
As a part of this endeavor, Srichakra Ecotex India Pvt Ltd will build and operate the new-recycled polyester staple fiber wash-line in Andhra Pradesh, exclusively for RIL. The recycled polyester staple fiber comprises Recron green-gold and polyethylene terephthalate flakes.
“The agreement with RIL provides an excellent opportunity for Srichakra to expand its footprint into the recycled polyester staple fiber market,” said Srinivas Mikkilineni, Director – Srichakra Ecotex Pvt. Ltd in a press release .
“The alliance will propel Srichakra’s commitment to reduce plastic pollution and facilitate both organizations to advance the circular economy for plastic waste in India. RIL’s industry expertise, technical knowledge, and business assurances will allow Srichakra to research, innovate and develop high-quality and sustainable products for RIL’s GreenGold portfolio. “
Reliance Industries Ltd’s initiative to more than double its recycling capacity to five billion post-consumer PET bottles will ensure India maintains over 90 percent recycling rate, the company said in a statement.
“The company is focusing on sustaining India’s post-consumer PET recycling rate, which is currently the highest in the world,” Reliance Industries Ltd said.
“Reliance Industries Ltd will empower entrepreneurs to divert post-consumer used packaging from landfills, set up recycling facilities, and create wealth from the waste throughout the country.”
RIL currently recycles PET bottles at plants in the Indian cities Barabanki, Hoshiarpur, and Nagothane.
The post-consumer PET bottles are used as a raw material for manufacturing recycled polyester fiber. The fibers manufactured through this process are branded as Recron GreenGold, and RIL, through its Hub Excellence Partners (HEP) (selected downstream mills), manufactures R Elan GreenGold fabrics , one of the greenest fabrics in the world, as per the company.
“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,” said Vipul Shah, COO of Petrochemicals Business at Reliance Industries Ltd.
“Reliance Industries Ltd is committed to the development of the entire value chain, and it shares expertise and technical know-how with the entrepreneurs to produce top quality products at the lowest possible costs. Reliance Industries Ltd has underwritten the entire production from Srichakra’s facility to provide support for the development of the business. ”
At present, RIL converts more than 2 billion post-consumer PET bottles into fibers annually. With the addition of Srichakra capacity, RIL will be instrumental in converting about 5 billion used PET bottles into value-added fibers.
(With inputs from ANI)
Edited by Abinaya Vijayaraghavan and Praveen Pramod Tewari