Reliance to set up recycled PSF manufacturing facility in Andhra; aims to double PET recycling capacity
Currently, RIL converts more than 2 billion post-consumer PET bottles into fibres annually. This move to more than double recycling capacity to 5 billion post-consumer PET bottles will ensure India maintains over 90 per cent recycling rate.
India’s largest private sector company-Reliance Industries 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 RIL’s commitment to enhance its sustainability quotient, bolster the polymer and polyester value chain as well as lead the industry further on circular economy.
In a filing with the exchange, the company said, “As a part of this endeavour, Srichakra Ecotex India Pvt Ltd will build & operate exclusively for RIL, the new recycled PSF – Recron GreenGold and PET flakes wash-line in Andhra Pradesh.”
RIL currently recycles PET bottles at its Hoshiarpur (Punjab), Barabanki (Uttar Pradesh) and Nagothane (Maharashtra) plants. The post-consumer PET bottles are utilised as a raw material for manufacturing re-cycled polyester fibre. The fibres manufactured are then branded as Recron GreenGold and RIL through its hub excellence partners (HEP) (selected downstream mills) manufactures one of the greenest fabrics in the world – R-Elan GreenGold fabrics.
Currently, RIL converts more than 2 billion post-consumer PET bottles into fibres annually. This move to more than double recycling capacity to 5 billion post-consumer PET bottles will ensure India maintains over 90 per cent recycling rate. The company is focussed on sustaining India’s post-consumer PET recycling rate, which is presently the highest in the world.
Reliance Industries Limited is a Fortune 500 company and the largest private-sector corporation in India. It has evolved from being a textiles & polyester company to an integrated player across energy, materials, retail, entertainment and digital services. Reliance's products & services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.
The scrip of Reliance Industries Ltd opened in the green, up by 0.79 per cent during the early market hours to touch Rs 2,121.25 per share on Thursday.