Race Eco Chain Invests ₹25.5 Million in Ganesha Recycling Chain: A Leap Towards Sustainable PET Recycling

Race Eco Chain Ltd. has made a strategic investment of ₹25.5 million in Ganesha Recycling Chain Private Limited, a joint venture with Ganesha Ecosphere Limited. This move underscores Race Eco Chain's commitment to enhancing PET recycling capabilities in India, aligning with government mandates for increased use of recycled plastic in packaging.

Key Highlights:

Investment Details: The investment is part of a broader strategy to establish multiple washing lines across India, producing high-quality PET flakes to meet rising demand for recycled PET (rPET).

Joint Venture Structure: Race Eco Chain holds a 51% stake in Ganesha Recycling Chain, while Ganesha Ecosphere owns 49%. This partnership leverages both companies' expertise to organize India's fragmented plastic waste supply chain.

Regulatory Context: The Indian government has set ambitious targets for rPET usage in packaging—30% by 2025-26 and 60% by 2028-29. This joint venture is well-positioned to meet these requirements.

Sustainability Impact: The initiative aims to reduce plastic waste significantly, fostering a circular economy and creating employment opportunities in the recycling sector.

ESG Focus: Race Eco Chain is committed to ESG compliance, using technology to streamline the waste supply chain and promote sustainable practices.

This investment reinforces Race Eco Chain's leadership in plastic waste management and its vision for a more sustainable future.

Source: Economic Times, Fibre2Fashion, Indian Chemical News