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We are pleased to share that Argus Partners has advised Dalmia Polypro Industries Private Limited (“Dalmia Polypro”) on raising an external commercial borrowing of USD 30 million from United States International Development Finance Corporation (DFC) for establishing a new greenfield recycling facility (“Facility”) in Nashik, Maharashtra.
The Facility is poised to cater to the escalating demand for premium recycled plastic, including food-grade materials, contributing to the realization of a circular plastic waste value chain. It is anticipated to process 171,000 metric tons of plastic annually and will focus on producing top-notch recycled PET (rPET), PP (rPP), and HDPE (rHDPE) flakes and granules.
Sharing his views on the transaction, Aditya Dalmia, Managing Director, Dalmia Polypro, stated that, “…In partnership with DFC, we aim to build one of India’s most advanced rPET recycling facilities and make a meaningful contribution to tackling what is arguably India’s most intractable challenge. For Dalmia Polypro, it is an investment towards the future of our people and environment.”
As per Ajay Rao, DFC’s Regional Managing Director, South Asia, “This investment will provide crucial financing to support improvements to India’s plastic waste value chain and expand the country’s capacity to reduce plastic waste. It also builds on DFC’s work to provide financing to support India’s development of more robust waste management services,”
Further, Mike Hankey, Consul General at the U.S. Consulate General, Mumbai stated that, “The project, anticipated to recycle approximately five percent of all plastic waste, is set to directly and indirectly support a substantial workforce of around 40,000 individuals within the supply chain.”
The team at Argus Partners advising Dalmia Polypro comprised Aastha (Partner), Swaraj Singh Narula, (Principal Associate) and Rohan Mitra (Associate).
Read more at: Hindu BusinessLine, Economic Times, ANI.