Reliance Industries Ltd. (RIL) said it is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh through an arrangement with a local entrepreneur.
“The move is part of RIL’s commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain,” it said in a statement.
As a part of this plan, Srichakra Ecotex India Pvt. Ltd. will build and operate exclusively for RIL the new recycled PSF – Recron GreenGold and PET flakes wash-line in Andhra Pradesh.
RIL’s initiative to more than double its recycling capacity to 5 billion post-consumer PET bottles will ensure India maintains over 90% recycling rate, the company said.
Vipul Shah, COO, Petrochemicals Business, RIL, said, “The expansion of PET Recycling capacity is part of Mr Mukesh Ambani’s vision to transform our legacy business into sustainable, circular and net zero carbon materials business and support the entrepreneurs to take risk throughout the value chain.”
Srinivas Mikkilineni, director, Srichakra Ecotex Pvt. Ltd., said, “The agreement with RIL provides an excellent opportunity for us to expand our footprint into the recycled polyester staple fibre market.”
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