Joint Venture Will Build Largest Mechanical Recycling Plant in India Lyondell Basell and Shakti Plastic Agreed to Build and Operate Plant to Process PCR #sustainability
Posted By : Ajay Tiwari | Date : May 1 2023 5:58 AM
Lyondell Basell and Shakti Plastic Industries have signed a memorandum of understanding to build an operate an automated mechanical recycling plant in India. The plant will process post-consumer rigid packaging waste and is intended to produce 55,000 ton/yr of recycled PE and PP. This volume will make the plant India’s largest mechanical recycling facility when it starts production near the end of 2024.
Rahul V. Podaar, managing director at Shakti Plastics Industries, and Yvonne Van Der Laan, executive vice president at Lyondell Basell, after signing the memorandum.
Photo Credit: Lyondell Basell
Lyondell Basell will market the recycled products as part of its Circulen Recover range of PE and PP materials, to help meet increasing demand by Indian converters and brand owners for recycled plastic.
The venture is expected to benefit from the complementary strengths of the two companies.
Shakti Plastic is India’s largest plastic scrap recycler and waste collector. The company will provide structure to the waste collection processes to secure input materials for the new venture.
Lyondell Basell is one of the world’s largest chemical companies. The Netherlands-based multinational will apply its expertise in plastic production technology and product development, as well as its knowledge of the polymer markets in India.