Magpet Polymers Secures ₹205 Crore Investment for India’s Largest Bottle-to-Bottle Recycling Plant.

Magpet Polymers, India’s first PET circular enterprise, has announced a strategic ₹205 crore investment from British International Investment (BII), the UK Government’s development finance institution and impact investor. The two organizations signed a memorandum of understanding to formalize the partnership.

The investment will accelerate Magpet's development of India’s largest integrated bottle-to-bottle food-grade recycling plant at Vidyasagar Industrial Park in Kharagpur, West Bengal. The facility will cover the entire PET recycling value chain, from receiving used bottles to processing them into flakes or granules, and ultimately turning them back into bottles.

With an annual capacity of 45,000 metric tonnes, the plant will produce food-grade recycled PET (rPET) pellets, reducing reliance on virgin plastics and meeting the growing demand for sustainable packaging. The plant will utilize advanced European technology from Herbold, Coperion, and Polymetrix, marking a first for India.

Andrew Fleming, British Deputy High Commissioner to East and Northeast India, hailed the partnership as a reflection of strengthened UK-India ties in trade, technology, and climate action. He stated that the collaboration “lays the foundation for sustainable, inclusive economic development."

Magpet’s Managing Director, Devendra Surana, welcomed the investment, noting that it will help scale sustainable practices and promote wider adoption of recycled PET in India’s packaging industry, contributing to the reduction of plastic waste and carbon emissions.

HBL