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Dalmia Polypro secures $30Mn funding from US' DFC

Oct 18, 2023

By: BlinkX Research Team

Dalmia Polypro Industries is set to receive a substantial boost with the US International Development Finance Corporation (DFC) committing $30 million for the construction of a plastic recycling plant in Maharashtra. The facility, to be located in Nashik, will focus on producing top-quality recycled materials from post-consumer plastic waste.

The DFC's financial support, provided through external commercial borrowing (ECB), underscores the critical role of this initiative in enhancing India's plastic waste value chain and bolstering its capacity for waste reduction. The new facility is slated to have an annual recycling capacity of 171,000 metric tonnes, furthering Dalmia Polypro's mission to develop food-grade recycled materials and applications.

The plant will specialize in the production of high-quality recycled PET (rPET), PP (rPP), and HDPE (rHDPE) flakes and granules, while also leveraging renewable energy and biofuel for a portion of its operations. The agreement for this significant endeavor was officially sealed in Mumbai.

By bolstering recycling capacity and generating employment opportunities, Dalmia's new facility stands as a testament to the commitment to sustainability and economic growth in the plastics recycling sector, remarked Mike Hankey, Consul General at the US Consulate General in the city.