Re Sustainability, Aarti Circularity Tie Up For Plastic Recycling
Masood Mallick, CEO, Re Sustainability Ltd and Mirik Gogri, Director, Aarti Circularity Ltd, during setting up of the JVCo, in Hyderabad on Thursday
Hyderabad: Re Sustainability and Recycling Pvt Ltd (ReSRL), a Re Sustainability Company (ReSL), and Aarti Circularity Ltd (ACL), a wholly owned subsidiary of Aarti Industries Ltd (AIL), announced a joint venture to develop Plastic Materials Recycling Facilities (PMRFs) across India.
The first facility will be set up in Hyderabad with an initial investment of about Rs 100 crore. The facility is set to be developed and operationalised within 15 to 18 months. These PMRFs will focus on segregating, extracting, and recycling resources from various waste streams, including plastics.
“The JVCo (joint venture company) will evaluate and engage leading technology partners to develop and operate state-of-the-art PMRFs, setting new benchmarks in India’s recycling and waste management sectors. The JVCo is expected to generate a turnover of Rs 5,000 crore in the next five years, catering to the increasing demand for recycled polymers,” said Mirik Gogri, Director, Aarti Circularity Ltd.
“The goal is to produce Advanced Circular Materials (ACM) that can be utilised as raw materials, fuels, or recycled polymer feedstock. The partnership is committed to achieving a minimum resource recovery capacity of about 500 tons per day by 2030, and exploring various feedstocks, including those from ReSL’s core operations,” Masood Mallick, Managing Director and CEO of Re Sustainability added.
Currently, Re Sustainability collects 90 lakh tonnes of waste each year and recycles nine lakh tonnes of plastic waste across its plants present in the country.
