India: Circular Economy Reliance to Multiply its PET Recycling Capacity
Reliance Industries has plans to establish a new recycled polyester staple fiber manufacturing facility in Andhra Pradesh to double its PET recycling capacity. With this move, the company aims to enhance its circular economy footprint and strengthen its PET value chain.
Mumbai/India – Reliance Industries Ltd (RIL), India’s largest private sector company is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. 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.
As a part of this endeavor, Srichakra Ecotex India 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 that India maintains a recycling rate of over 90 %.
RIL is focusing on sustaining India’s post-consumer PET recycling rate which is currently the highest in the world.
Commenting on the development, Vipul Shah, COO - Petrochemicals Business, RIL, said, "The expansion of PET Recycling capacity is part of 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. RIL is committed to development of the entire value chain and it shares expertise and technical knowhow with the entrepreneurs to produce top quality products at lowest possible costs. RIL has underwritten the entire production from Srichakra’s facility to provide support for development of the business.”
While expressing pleasure in partnering with RIL, Srinivas Mikkilineni, Director – Srichakra Ecotex, said, “The agreement with RIL provides an excellent opportunity for Srichakra to expand its footprint into the recycled polyester staple fiber market. 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.”
At present, RIL converts more than 2 billion post-consumer PET bottles into fibers annually. With the addition of the Srichakra capacity RIL will be instrumental in converting about 5 billion used PET bottles into value-added fibers.