Page 61 - Plastics News June 2026
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BUSINESS NEWS
Recove to Invest Over ₹500 crore in Recycling In
Maharashtra
2B circular economy company Recove dorisation systems to produce industrial-grade
Ventures Pvt Ltd has signed a Memoran- plastic granules for applications in packaging,
Bdum of Understanding (MoU) with the automotive and consumer goods industries.
Department of Industries, Government of Maha- The project is expected to become operational
rashtra, to develop a large-scale plastic recycling between October and December 2026 and is
projected to generate 100 direct and over 1,500
indirect employment opportunities. Recove Ven-
tures already operates facilities in Pune and
Bengaluru. Its Pune pre-processing plant began
test operations in April 2026, while its Bengalu-
ru facility is currently processing more than 415
tonnes of plastic waste per month.
New job postings up 16% in Indian Packaging
Industry
and circular manufacturing ecosystem in the
state. Under the 10-year partnership framework,
Recove Ventures plans to invest more than `500
crore in waste processing, recycling, material re-
covery, aggregation and other circular manufac-
turing activities across Maharashtra. In the first
phase, the company aims to build processing
capacity for 5,000 tonnes of plastic waste per
month, with plans to scale it up to 1 lakh tonnes
annually in the coming years. Recove Ventures
Co-Founder Viral Chhajer said the company is
not just setting up a plant but building long-term The Indian packaging industry experienced a 16%
rise in new job postings in Q2 2024 compared
infrastructure that can transform post-consumer with the previous quarter, with the highest share
plastic waste into industrial-grade raw materi-
als. The company’s first major project under the accounted for by Korber with 164 job postings
MoU will be an advanced HDPE and PP recycling according to GlobalData’s analysis of packaging
facility at Additional Jalgaon MIDC in Maharash- company job postings. According to the study
report;- GlobalData’s Packaging: Hiring Trends
tra’s Jalgaon district. The project will involve an & Signals Q2 2024, the study reveals compre-
investment of over `35 crore and will have a pro-
cessing capacity of 1,100 tonnes per month. The hensive insights into hiring patterns, job roles,
facility will use advanced extrusion and granula- required skills, geographical trends, and key
tion technologies along with deep-vacuum deo- themes within the packaging industry, facilitating
anticipation of future workforce needs. Notably,
June 2026 PLASTICS NEWS 63
