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PRNewswire
Mumbai (Maharashtra) [India], February 1: Re Sustainability and Recycling Private Limited (ReSRL), a Re Sustainability Company (ReSL), and Aarti Circularity Limited (ACL), a wholly owned subsidiary of Aarti Industries Limited (AIL), a prominent player in speciality chemicals, have joined hands to establish a transformative first-of-its-kind-in-India Joint-Venture Company (JVCo) for driving the development of Plastic Materials Recycling Facilities (PMRFs) across India, aiming to revolutionise plastic resource recovery and sustainable resource management practices. With an initial investment of approximately Rs100 crores for the first facility in Hyderabad, the PMRFs will focus on segregating, extracting, and recycling resources from diverse waste streams, including plastics. The goal is to produce Advanced Circular Materials (ACM) that can be utilized as raw materials, fuels, or recycled polymer feedstock. The partnership is committed to achieving a minimum resource recovery capacity of approximately 500 tons per day by 2030 and exploring various feedstocks, including those from ReSL's core operations, to maximize material and energy circularity. The inaugural Plastic Materials Recycling Facility under this partnership is set to be developed and operationalized within 15 to 18 months. It will also mark a significant milestone in India's journey toward sustainable waste management. This strategic partnership underscores a shared commitment to sustainability and technological innovation. The JVCo will evaluate and engage leading technology partners to develop and operate state-of-the-art PMRFs, setting new benchmarks in India's recycling and waste management sectors. The JVCo is expected to generate a turnover of Rs5000 crores in the next five years, catering to the increasing demand for recycled polymers. Masood Mallick, Managing Director & CEO of Re Sustainability, stated, "This collaboration is a significant milestone in our journey toward sustainable resource management. The partnership combines our waste management and resource recovery expertise with the rich legacy of Aarti Industries and its 40 years of expertise in speciality chemical manufacturing, enabling us to build cutting-edge infrastructure that addresses critical waste challenges. By leveraging advanced technologies and sustainable practices, we aim to create a robust framework that minimises environmental impact and fosters economic growth through resource efficiency and circularity. Together, we will set a benchmark for sustainable development in India and beyond." Mirik Gogri, Director - Aarti Circularity Limited, commented, "This arrangement between ACL and ReSRL is a pathbreaking development that builds on the synergies and competencies of two leading companies to address pressing environmental challenges by combining innovation with sustainability. Through this JV, we aim to revolutionise plastic recycling in India and beyond, aligning with ACL's broader mission to foster a circular economy, minimise waste generation, reduce reliance on virgin resources, and mitigate environmental impact. To extract every 100 tons of ACMs, approximately 200 tons of municipal waste must be processed. This makes the partnership a key player in tackling the country's plastic waste challenges. Currently, Re Sustainability collects 9 million tonnes of waste per annum and recycles 9 lakh tonnes of plastic waste across its plants throughout the country, positioning it at the forefront of partnerships to provide scalable solutions. About Re Sustainability Re Sustainability Limited (ReSL), a KKR-backed Company, is one of Asia's leading comprehensive environmental management service providers. ReSL offers a wide range of environmental services and infrastructure solutions and is India's largest recycling, resource recovery and circular economy Company. ReSL has a growing global footprint, including over 100 operating locations in India, Singapore, the UAE, Saudi Arabia, Qatar, Kuwait, Oman, Tanzania, and the USA. Its dedicated workforce numbers over 22,000 people. For more information, please visit www.resustainability.com. About Aarti Industries Aarti Industries Limited (AIL) is one of the world's leading speciality chemical companies, combining process chemistry with scale-up engineering competence. The Company globally ranks at 1st - 4th position for 75% of its portfolio and is a "Partner of Choice" for various Major Global & Domestic Customers. At the heart of AIL's operations is a dedication to sustainable development, seamlessly integrating environmental stewardship into its business model by leveraging cutting-edge technologies and a robust infrastructure to deliver solutions that balance economic growth with ecological responsibility. The Company's commitment to innovative and sustainable practices and immense care for its people and the planet defines its path to success. www.aarti-industries.com Photo: https://mma.prnewswire.com/media/2610310/RE_SUSTAINABILITY_JV_ACL.jpg Logo: https://mma.prnewswire.com/media/2610313/RESL_Logo.jpg Logo: https://mma.prnewswire.com/media/2610350/5144737/Aarti_Circularity_Logo.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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