Banyan Nation In Rs 200-Cr Expansion Drive In TG
Tripling recycling capacity to 45,000 tonne at its facility in Pasamailaram Industrial area will add 500 more jobs
Telangana IT Minister D Sridhar Babu with Banyan Nation CEO, Mani Vajipey, and COO, Raj Kiran Madanagopal, during a meeting at Secretariat on Thursday
The company has requested for addl land for setting up new facilities. TSIIC will take a decision on this matter - D Sridhar Babu, IT & Industries Minister
Hyderabad: Banyan Nation, a plastic waste recycling startup, is set to expand its recycling facility in Telangana at an investment of Rs200 crore. This expansion will generate employment opportunities for 500 people more. However, the time frame for generating this employment number is yet to be announced.
After a meeting held here at the Secretariat with Banyan Nation representatives on Thursday, Telangana IT and Industries Minister D Sridhar Babu shared the details of the company’s plans. He said that the startup currently operates a recycling facility at Pasamailaram Industrial area in Patancheru, with an annual capacity of 15,000 tonnes. Banyan Nation aims to triple its capacity to 45,000 tonnes with an investment of Rs200 crore, he further said adding that this expansion will generate employment opportunities for an additional 500 people.
“Banyan Nation’s efforts align with the government’s vision of promoting sustainability and fostering innovative enterprises that contribute to the state’s economic and environmental goals. With an annual turnover of Rs100 crore, Banyan Nation is operating profitably,” the Minister pointed out.
Sridhar Babu informed that the company has requested for additional land for setting up new facilities. The decision on this matter will be taken by Telangana State Industrial Infrastructure Corporation (TSIIC), he added.
The company, which specializes in recycling plastic waste, supplies its products to major corporations such as Unilever and Tata Motors. Further, Sai Krishna, IT Advisor, V Madhusudhan, CEO (Projects), TSIIC, Banyan Nation CEO Mani Vajipey, and COO, Raj Kiran Madanagopal, were also present at the meeting.
