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Indorama Ventures, alongside its subsidiaries IVL Dhunseri Petrochem Industries and Dhunseri Ventures, has teamed up with Varun Beverages to create several new PET recycling facilities in India. This joint venture (JV) marks a significant step towards enhancing sustainability in the region’s plastics industry.
The JV is already underway with the construction of two greenfield PET recycling plants. One facility is being built in Kathua district, Jammu & Kashmir, and the other in Khurdha, Odisha. Both facilities are slated for completion by 2025, with a combined annual capacity target of 100 kilotons of recycled PET (rPET).
The decision to invest in these facilities comes in response to the growing demand for rPET, which is expected to soar from approximately 400 kilotons in 2025-2026 to over one million tonnes by 2031. This increase aligns with the government's stringent recycling targets, which mandate a 30% recycled content in plastic packaging by 2025-2026, escalating to 60% by 2028-2029.
The initiative reflects a broader shift towards sustainable practices in the packaging industry, responding to both regulatory pressures and market demand. By establishing these facilities, the JV aims to significantly contribute to the circular economy and support India's ambitious recycling goals.
The project underscores the commitment of Indorama, Dhunseri, and Varun Beverages to environmental sustainability and positions them as key players in the global shift towards greener plastic solutions.
News by Rahul Yelligetti
