On Wednesday, Dalmia Polypro Industries received a USD 30 million commitment from the US International Development Finance Corporation (DFC) for the construction of a plastic recycling facility in Maharashtra.
According to a statement from DFC, Dalmia, which creates premium recycled materials from post-consumer plastic waste, will raise the funds necessary to finance the new recycling plant in Nashik using the external commercial borrowing (ECB) method.
According to DFC’s regional managing director for South Asia, Ajay Rao, the new facility would boost enhancements in India’s plastic waste value chain and increase the potential to minimise plastic waste.
According to the announcement, the facility will assist Dalmia Polypro in creating recycled materials and applications that are suitable for food use, with an annual recycling capacity of 1,71,000 metric tonnes.
The factory, which will be partially powered by renewable energy and biofuel, will manufacture premium recycled PET (rPET), PP (rPP), and HDPE (rHDPE) flakes and granules. On Wednesday, the two organisations in the financial capital inked a deal for the facility.
Mike Hankey, Consul General of the US Consulate General in the city, stated that Dalmia’s new plant will boost recycling capacity in India while generating jobs and offering financial possibilities for small and medium-sized businesses and informal labourers in the supply chain for plastics recycling.