April 17, 2024
Corporates

Shree Renga Polymers To Invest Rs 100 Crore In PET Bottle Recycling Project

Shree Renga Polymers, the Karur-based garment company will invest Rs 100 crore to expand its capacity. The company came to fame when Prime Minister Narendra Modi wore a jacket made out of recycled pet bottles in parliament, according to newspaper report.

The company will set up a green field PET bottle recycling facility in Karur in Tamil Nadu using the latest technology for recycling waste PET bottles to value-added products like fibres, yarns and garments. This investment will increase rPSF capacity by six times to 130 tonnes per day. The company’s products will go into technical textiles and woven and knitted products, said Senthil Sankar, Managing Partner.

The company recently signed an MoU for the project at the Tamil Nadu Global Investors Meet 2024 at Chennai. “This expansion will potentially take our manufacturing revenue to Rs 500 crore and push EcoLine to be a Rs 1,000 crore brand,” Sankar stated.

The company creates a hybrid fabric material by blending organic cotton with fibres made from recycled PET bottles. It only takes six bottles to create a T-shirt. “We prove to the world that sustainable fashion doesn’t always have to be expensive,” Sankar said.

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