Joint Venture3 Feb 2025, 09:43 pm
Race Eco Chain Expands Value-Added Business with Strategic JV in PET Flakes Production
AI Summary
Race Eco Chain Ltd, a leader in plastic waste management and circular economy solutions, and Ganesha Ecosphere Ltd, India's largest PET recyclers, have formed a joint venture, Ganesha Recycling Chain Private Limited. The JV aims to meet the rising demand for rPET Flakes by setting up several washing lines across India. Race Eco Chain will hold up to 51% equity stake, while Ganesha Ecosphere will hold up to 49%. The demand for PET flakes in India is projected to exceed 1 million tons by 2031, and this joint venture is well-positioned to meet this growing need. This strategic expansion is poised to increase Race Eco Chain's profit margins and support value-added business segments.
Key Highlights
- Race Eco Chain and Ganesha Ecosphere form a joint venture, Ganesha Recycling Chain Private Limited, to produce quality PET flakes
- The JV aims to meet the rising demand for rPET Flakes by setting up several washing lines across India
- Race Eco Chain will hold up to 51% equity stake, while Ganesha Ecosphere will hold up to 49%
- The demand for PET flakes in India is projected to exceed 1 million tons by 2031
- This strategic expansion is poised to increase Race Eco Chain's profit margins and support value-added business segments