Reliance Industries to set up recycled PSF unit in AP
Srichakra Ecotex India Pvt Ltd will build and operate exclusively for RIL the new recycled polyester staple fibre (PSF) â€“ Recron GreenGold and PET flakes wash-line in Andhra Pradesh.
Reliance Industries Limited (RIL), Indiaâ€™s largest private sector company, is doubling its PET recycling capacity by setting up a recycled polyester staple fibre (PSF) manufacturing facility in Andhra Pradesh. The move is part of RILâ€™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 endeavour, Srichakra Ecotex India Pvt Ltd will build and operate exclusively for RIL the new recycled PSF â€“ Recron GreenGold and PET flakes wash-line in Andhra Pradesh.
RILâ€™s initiative to more than double its recycling capacity to 5 billion post-consumer PET bottles will ensure India maintains over 90% recycling rate. RIL is focusing on sustaining Indiaâ€™s post-consumer PET recycling rate which is currently the highest in the world.
RIL will empower entrepreneurs to divert post-consumer used packaging from landfills, setup recycling facilities and create wealth from waste throughout the country. RIL is driving various initiatives such as Fashion for Earth in partnership with LakmÃ© Fashion Week and the United Nations in India, Hub Excellence Programme and Circular Design Challenge to inculcate circularity and sustainability concepts in polymer, textile and fashion industries.
Vipul Shah, COO – Petrochemicals Business, Reliance Industries Ltd (RIL), said, “The expansion of PET Recycling capacity is part of Mr Mukesh Ambaniâ€™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 entire value chain and it shares expertise and technical know-how with the entrepreneurs to produce top quality products at lowest possible costs. RIL has underwritten the entire production from Srichakraâ€™s facility to provide support for development of the business.â€
Srinivas Mikkilineni, Director, Srichakra Ecotex Pvt Ltd, said, â€œThe agreement with RIL provides an excellent opportunity for Srichakra to expand its footprint into the recycled polyester staple fiber market. The alliance will propel Srichakraâ€™s commitment to reduce plastic pollution and facilitate both organizations to advance the circular economy for plastic waste in India. RILâ€™s industry expertise, technical knowledge, and business assurances will allow Srichakra to research, innovate and develop high-quality and sustainable products for RILâ€™s GreenGold portfolio.â€
RIL currently recycles PET bottles at its Barabanki, Hoshiarpur and Nagothane plants. The post-consumer PET bottles are used as a raw material for manufacturing re-cycled polyester fibre. The fibres 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.
At present, RIL converts more than 2 billion post-consumer PET bottles into fibres annually. With addition of Srichakra capacity RIL will be instrumental in converting about 5 billion used PET bottles into value-added fibres.
Srichakra Ecotex was established by the promoters of Srichakra Polyplast Pvt Ltd. Founded in 2010, Srichakra is Indiaâ€™s leading plastic recycling and waste management company based in Hyderabad, Telangana. For ten years, Srichakra has pioneered the plastic recycling process and achieved many â€˜firstsâ€™ for plastic recycling in India, including Indiaâ€™s first and only food-grade rPET recycling facility. Srichakra specialises in producing superior rPET, rPP, rPE granules in large volumes for the packaging, textile, and automotive industries. Srichakra growth strategy includes partnerships with large corporations, including brand owners, and aims for pan India presence and expand its capacity by 5-fold in the next five years.