ReSRL-ACL partnership aims for Rs.5,000cr turnover
Re Sustainability and Recycling Private Limited (ReSRL) and Aarti Circularity Limited (ACL) have set up a Joint-Venture Company (JVCo) for driving the development of Plastic Materials Recycling Facilities (PMRFs) across India with the first Rs.100 crore facility in Hyderabad.
The PMRFs will focus on segregating, extracting, and recycling resources from diverse waste streams, including plastics, for producing advanced Circular Materials (ACM) that can be utilized as raw materials, fuels, or recycled polymer feedstock.
Re Sustainability and Recycling Private Limited (ReSRL), a Re Sustainability Company (ReSL) backed by global investor KKR, 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, aiming to revolutionise plastic resource recovery and sustainable resource management practices.
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 https://www.investindia.gov.in/.
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 Rs.5,000 crores in the next five years, catering to the increasing demand for recycled polymers .
Announcing the JVCo on 1 Feb, Masood Mallick, Managing Director & CEO of Re Sustainability, said, “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, elaborated, “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.
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.
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 and domestic customers. Fiinews.com