Dalmia Polypro raises $30 million from US DFC to construct facility in Maha

Business Standard

The US Worldwide Improvement Finance Company (DFC) on Wednesday allotted US$30 million to Dalmia Polypro Industries to construct a plastic recycling facility in Maharashtra.

Dalmia, which produces high-quality recycled supplies from post-consumer plastic waste, will elevate funds via Exterior Industrial Borrowing (ECB) to finance the brand new recycling facility in Nashik, DFC mentioned in a press release.

The brand new facility will assist enhancements within the plastic waste worth chain in India and develop the capability to scale back plastic waste, mentioned Ajay Rao, DFC’s Regional Managing Director, South Asia.

The power can have a recycling capability of 1,71,000 metric tons each year and can assist Dalmia Polypro develop food-grade recycled supplies and purposes, the discharge mentioned.

The power will produce high-quality recycled PET (rPET), PP (rPP) and HDPE (rHDPE) flakes and pellets, and can be powered partially by renewable vitality and biofuels.

The facilitation settlement was signed between the 2 entities within the monetary capital on Wednesday.

Mike Hanke, Consul Common on the US Consulate Common within the metropolis, mentioned the brand new Dalmia facility will improve India’s recycling capability whereas creating jobs and offering financial alternatives to casual employees and small and medium-sized enterprises within the plastics recycling provide chain.

(Solely the title and picture of this report could have been reworked by Enterprise Customary employees; the remainder of the content material is auto-generated from a syndicated feed.)

First revealed: October 18, 2023 | 1:43 pm he

(Tags for translation) Unbiased Companies of the US Authorities

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