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LyondellBasell, Shakti Plastic partner to build mechanical recycling plant in India

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LyondellBasell, Shakti Plastic partner to build mechanical recycling plant in India

Chemicals and refining company LyondellBasell, Rotterdam, The Netherlands, and Mumbai-based plastics and polymers recycler Shakti Plastic Industries have signed a memorandum of understanding to partner on a joint venture to build and operate a fully automated mechanical recycling plant in India, which both companies say is expected to begin operation at the end of 2024. - RecyclingToday

The companies say the plant will become the largest of its kind in the country and is intended to process postconsumer rigid packaging, producing 50 tons of recycled polyethylene (PE) and polypropylene (PP) per year, equivalent to the single-use plastic scrap produced by 12.5 million citizens.

LyondellBasell says it will market the recycled products processed at the plant, adding volume to its Circulen Recover range of existing PE and PP materials to help meet increasing demand by converters and brand owners in India for recycled polymer materials.

The proposed joint venture will allow us to address the issue of plastic waste in the second-most populated country in the world and expand our circular polymer product offering to India. Combining our respective expertise with Shakti Plastic Industries will create an innovative system that can be scaled as the circular economy grows.

LyondellBasell Executive Vice President of Circular and Low Carbon Solutions Yvonne van der Laan

The companies say the joint venture will leverage their respective strengths. Shakti Plastic Industries will use the development of a recycling infrastructure in India to provide structure and formality to the waste collection process to secure materials to use at the new plant. Meanwhile, LyondellBasell will apply its expertise in plastic production technology, product development and its knowledge of the polymer markets in India.

The circular economy will increasingly develop into a critical part of the plastic value chain in India, requiring solutions across the value chain to develop a sustainable world of plastic recycling. As we move towards becoming a value player in the circular economy, we will continue to seek opportunities for future growth. Together with LyondellBasell, we will be on the forefront in India, taking significant steps to recycle rigid plastic waste, which supports the government initiative to reuse recycled plastic in packaging applications.

Shakti Plastic Industries Managing Director Rahul V. Podaar

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