revalyu Resources, a leading chemical recycling company, has commissioned its PET recycling plant adjacent to existing unit in Nashik.
The company will increase its capacity by 58 per cent to 51,000 tonne per annum (tpa) from 15,000 tpa. The second plant will recycles over 20 million used PET bottles a day to high quality PET chips and PET polymer.
The product can be used by companies making PET bottle, packaging materials, textiles, automobile accessories and a wide variety of other copolymer based products.
revalyu is also putting up a third plant of 36,000 tonnes per annum which will be up and running by the September quarter of next year. The company will invest ₹830 crore in the two new plants.
While the Nashik-1 plant generates a revenue of $16 million, the two new plants has the potential to earn revenue of ₹950 crore ($115 million).
The company uses highly advanced patented glycolysis-based recycling technologies and automated processes, which make the manufacturing operations highly optimised, scalable, profitable and easily replicable.
The recycled PET is produced using 75 per cent less water and 91 per cent less energy than conventional PET made from oil.
The company will replicate the Nashik plant technology in the Georgia, US and will have a capacity of 72,000 tonne in two phases. The project will lead to an investment of about $250 million (about ₹2,075 crore) and will be completed by December 2027.
Vivek Tandon, Founder, revalyu Group said the collection of PET bottles is one of the highest in the world at 95 per cent while that of the global average was 25 per cent.
Give the strong establishment of value chain in the plastic recycling industry, he said the government should consider allowing other countries to export plastic PET bottles to India and boost export of recycled flakes which are in high demand globally.
“We continue to seek global partners to join us in our global expansion as we continue to drive innovation to deliver the highest quality sustainable recycled polymer to customers and take care of our planet for our future generations”.
Germany-based Heraeus, a family-owned global technology group, owns majority stake in revalyu and keen on expanding its footprint across India in the near future.