DFC Commits $30 Million for Plastic Recycling in India

19 Oct 2023 CW Team

The US International Development Finance Corporation (DFC) has pledged $30 million to Dalmia Polypro Industries to establish a plastic recycling facility in Maharashtra. Dalmia, known for producing high-quality recycled materials from post-consumer plastic waste, will secure the funds through external commercial borrowing (ECB) to support the new recycling facility in Nashik, according to a DFC statement.

The facility is expected to enhance India's plastic waste value chain and increase its capacity to reduce plastic waste, as noted by Ajay Rao, DFC's regional managing director for South Asia.

This recycling facility is designed to handle 1,71,000 metric tonnes of recycling per year and facilitate the development of food-grade recycled materials and applications by Dalmia Polypro. Moreover, the facility will manufacture high-quality recycled PET (rPET), PP (rPP), and HDPE (rHDPE) flakes and granules, with a portion of its power coming from renewable energy and biofuel sources.

An agreement between the two parties was signed in the financial capital on Wednesday.

Mike Hankey, Consul General at the US Consulate General in the city, remarked, "Dalmia's new facility will expand recycling capacity in India, generate employment, and provide economic opportunities for informal workers and small and medium-sized enterprises involved in the plastics recycling supply chain."

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