Mumbai (Maharashtra) [India], Aug 4 (ANI): Reliance Industries Ltd (RIL) is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh.
India's largest private sector company said the move is part of its 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 -- Recron GreenGold and PET flakes -- wash-line in Andhra Pradesh.
RIL's initiative to more than double its recycling capacity to five billion post-consumer PET bottles will ensure India maintains over 90 per cent recycling rate, it said in a statement adding the company is focusing on sustaining India'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.
Vipul Shah, COO of Petrochemicals Business at RIL, said the expansion of PET recycling capacity is part of Mukesh Ambani's vision to transform 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 knowhow with the entrepreneurs to produce top quality products at lowest possible costs," he said.
"RIL has underwritten the entire production from Srichakra's facility to provide support for development of the business." ANI)