Investment crucial to support improvements to India’s plastic waste value chain
Dalmia Polypro Industries Private Limited has received a commitment for an ECB loan of US$30 million from the US International Development Finance Corporation (DFC) to help fund a greenfield recycling facility in Nashik, Maharashtra.
Ajay Rao, DFC’s Regional Managing Director, South Asia, highlighted the commitment for the US$30 million ECB loan to Dalmia Polypro, which builds on DFC’s significant commitments to India’s private sector in priority sectors where there is enduring demand for high quality, impactful projects.
“DFC is proud to support this transaction. This investment will provide crucial financing to support improvements to India’s plastic waste value chain and expand the country’s capacity to reduce plastic waste. It also builds on DFC’s work to provide financing to support India’s development of more robust waste management services,” Rao said on 19 Oct 2023.
The facility will produce high quality recycled PET (rPET), PP (rPP) and HDPE (rHDPE) flakes, and granules. Operations will be partially powered by renewable energy and biofuel, with LEED certified infrastructure, ensuring zero liquid discharge.
This achieves maximum value for the plastic waste collected and processed, fostering plastic circularity and benefiting the entire value chain.
Dalmia Polypro’s Managing Director Aditya Dalmia welcomed DFC as partner for the upcoming state-of-the-art greenfield recycling project in Nashik.
“In partnership with DFC, we aim to build one of India’s most advanced rPET recycling facilities and make a meaningful contribution to tackling what is arguably India’s most intractable challenge. For Dalmia Polypro, it is an investment towards the future of our people and environment.”
Mike Hankey, Consul General at the US Consulate General, Mumbai, said, “Dalmia’s new facility will increase recycling capacity in India while creating jobs and providing economic opportunities for informal workers and small and medium-sized enterprises in the plastics recycling supply chain.
“The United States and India are crucial partners in addressing climate change, and this project exemplifies our shared determination to support the planet in ways that drive prosperity for all.” Fiinews.com
