Mumbai: Mukesh Ambani-led Reliance Industries Limited (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 and strengthen the entire polyester and polymer value chain.
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As a part of this effort, Srichakra Ecotex India Pvt. Ltd. will manufacture and operate the newly recycled PSF – Rekron GreenGold and PET Flex wash-line exclusively in RIL, Andhra Pradesh.
RIL’s initiative to more than double its recycling capacity to 5 billion post-consumer PET bottles will ensure India maintain a recycling rate of over 90%. RIL is focused on maintaining India’s post-consumer PET recycling rate, which is currently among the highest globally.
RIL will empower entrepreneurs to remove post-consumer packaging from landfills, set up recycling facilities and create wealth from waste across the country.
RIL is running various initiatives like Lakme Fashion Week and Fashion for Earth, Hub Excellence Program, and Circular Design Challenge in partnership with United Nations in India to develop circularity and sustainability concepts in polymer textile and fashion industries.
Commenting on the development, Mr. Vipul Shah, COO – Petrochemicals Business, RIL, said, “The expansion of PET recycling capacity is part of Mr. Mukesh Ambani’s vision to transform our legacy business into a sustainable, circular and net zero carbon material business. and support entrepreneurs to take risks across the value chain.RIL is committed to the development of the entire value chain and it shares expertise and technical know-how with entrepreneurs to produce high quality products at the lowest possible cost RIL has underwritten the entire production facility of Srichakra to provide support for the growth of the business.”
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Sri Srinivas Mikkilineni, Director – Srichakra Ecotex Pvt. Ltd. said, “The agreement with RIL provides Srichakra an excellent opportunity to expand its footprint in the recycled polyester staple fiber market. The alliance will further enhance Srichakra’s commitment to reducing plastic pollution and plastic waste to both organizations. The circular will facilitate further boosting of the economy in India. RIL’s industry expertise, technical know-how and business assurance will allow Srichakra to research, innovate and develop high quality and sustainable products for RIL’s GreenGold portfolio. “
RIL currently recycles PET bottles at its Barabanki, Hoshiarpur and Nagothane plants. After-consumer PET bottles are used as a raw material for the manufacture of recycled polyester fibers. The fiber manufactured through this process is branded as Rekron GreenGold, and RIL through its Hub Excellence Partners (HEPs) (selected downstream mills) Elan GreenGold Fabrics, one of the greenest fabrics in the world.
Currently, RIL converts over 2 billion post-consumer PET bottles into fiber annually. With the addition of Srichakra capacity, RIL will be instrumental in converting around 5 billion used PET bottles into value-added fibre.
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