Page 21 - Plastics News January 2021

FeAtures

Plastics Recycling Still Attracts Investments

Pre- COVID India was expected to be worth USD 13.62 billion by the year 2025. The plastics recycling mar-
ket alone was expected to grow at 6.5 per cent to attain a market size of USD 53.72 billion by the end of 2023

The problem is not with plastic. The problem lies Circulate Capital is an investment-management firm
“in our attitude towards handling plastic. Improper that focuses on reducing ocean plastics generation in
littering habits and lack of awareness on plastics waste south and Southeast Asia and is backed by some of the
management have resulted in many hazards,” said Hon’ble world’s largest consumer product brand owners. The firm
Vice-President Mr Venkaih Naidu. recently announced $19 million in equity investments in
four privately held Indian recycling companies: Srichakra
Recently addressing the faculty and students of the Polyplast and Dalmia Polypro Industries, both plastic
Central Institute for Petrochemicals Engineering and
Technology at Surampalli near Vijayawada, the Vice- bottle reclaimers; Deeya Panel Products, a multi-layer
plastics reclaimer and building products manufacturer;
President noted that avoiding (use of) plastic was not the
solution but ensuring its responsible use and recycling and Rapidue Technologies, a digital technology provider.
were important. He said that plastics played a significant
role during the Covid-19 pandemic through their wide use
in medical protection equipment and PPE kits. “Plastic has
been a saviour in preventing the spread (of coronavirus).
The disposable plastic syringes, blood bags, gloves and
other medical solutions with enhanced features and
functionality have proven their worth during this difficult
time,” he observed.
The Vice President correctly pointed out that the problem
is not with plastic. The problem lies in our attitude
towards handling plastic. Improper littering habits and
lack of awareness on plastics waste management have
resulted in many hazards. And to overcome plastic waste
we need to develop the infrastructure for the domestic
plastics recycling to be viable enough to sustain. Circulate Capital invested in Dalmia Polypro Industries, a
plastic bottle recycling company based in Mumbai, India.
According to the Vice President The “3Rs” Reduce, Reuse,
Recycle with segregation are the key to recycling and Circulate Capital has invested $39 million from its “ocean
realising ‘waste to wealth’ and the waste management fund” in Indian companies. Previous investments went
mark in India is expected to be worth USD 13.62 billion to Lucro Plastecycle, which recycles flexible plastic
by the year 2025. The plastics recycling market alone is scrap into new flexible packaging, and Nepra Resources
expected to grow at 6.5 per cent to attain a market size Management, the largest collector and processor of dry
of USD 53.72 billion by the end of 2023. It might vary a waste in India. Circulate Capital plans to dedicate half
bit with the COVID repercursions of the ocean fund’s $106 million to India. Together, the
investments span three key areas of focus for Circulate
Keeping a tab on the happening and to help in our Capital: scaling collection and sorting in partnership with
endeavor, Circulate Capital, the Singapore-based cities, scaling upcycling, and scaling digitization across
investment management company focused on preventing the value chain, Kaplan said.
plastic from leaking into the ocean and advancing the
circular economy announced that Circulate Capital Ocean Founded by Ravindra Venkata in 2010, the Hyderabad
based , Srichakra Polyplast pioneered the plastic recycling
Fund (CCOF) has committed to invest in four leading
companies that are using technology and innovation process in India whereas Abhay Deshpande’s founded,
Recykal is supposed to be India’s first “waste-commerce"
to scale and transform India’s waste management and
recycling value chain. company, transforming the waste management and
recycling industry and setting new standards through

21 Januar y 2021 Plastics News