New Delhi, Aug 4 (PTI) Reliance Industries Ltd on Wednesday said it will double its capacity to recycle plastic bottles after a third-party recycled polyester staple fibre (PSF) manufacturing facility is set up in Andhra Pradesh.

The move, the company said, is part of its commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain.

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"As a part of this endeavour, Srichakra Ecotex India Pvt Ltd will build and operate exclusively for RIL the new recycled PSF – Recron GreenGold and PET flakes wash-line in Andhra Pradesh," the company said in a statement.

This will help RIL to more than double its recycling capacity to 5 billion post-consumer PET bottles and ensure India maintains over 90 per cent recycling rate, the statement said.

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RIL currently recycles PET bottles at its Barabanki, Hoshiarpur and Nagothane plants. The post-consumer PET bottles are used as raw material for manufacturing re-cycled polyester fibre.

The fibres manufactured through this process are branded as Recron GreenGold.

At present, RIL converts more than 2 billion post-consumer PET bottles into fibres annually. With the addition of Srichakra capacity, RIL will be instrumental in converting about 5 billion used PET bottles into value-added fibre.

"RIL will empower entrepreneurs to divert post-consumer used packaging from landfills, set up recycling facilities and create wealth from the waste throughout the country," it said.

Vipul Shah, COO - Petrochemicals Business, RIL, said the company is committed to the development of the entire value chain and it shares expertise and technical know-how with the entrepreneurs to produce top-quality products at the lowest possible costs.

"RIL has underwritten the entire production from Srichakra's facility to provide support for the development of the business," he said.

Srinivas Mikkilineni, Director - Srichakra Ecotex Pvt Ltd, said the agreement with RIL provides an opportunity for his firm to expand its footprint into the recycled polyester staple fibre market.

"The alliance will propel Srichakra's commitment to reduce plastic pollution and facilitate both organizations to advance the circular economy for plastic waste in India.

"RIL's industry expertise, technical knowledge, and business assurances will allow Srichakra to research, innovate and develop high-quality and sustainable products for RIL's GreenGold portfolio," he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)