Shree Renga Polymers Commits ₹100 Crore Investment in Greenfield PET Bottle Recycling Facility in Karur; Signs MoU with Tamil Nadu Government

Karur-based garment company Shri Renga Polymers, recognized for gaining attention when Prime Minister Narendra Modi wore a jacket made from recycled PET bottles in Parliament, is set to invest ₹100 crore to enhance its production capacity.

The company is establishing a greenfield PET bottle recycling facility at Thennilai and Manavasi in Karur, western Tamil Nadu. Utilizing cutting-edge technology for recycling waste PET bottles into value-added products like fibers, yarns, and garments, the investment aims to increase recycled PET staple fiber (rPSF) capacity by six times, reaching 130 tonnes per day. The end products will contribute to technical textiles, woven, and knitted items, as outlined by the company's Managing Partner, Senthil Sankar.

The project took a significant step forward on Monday as the company signed a Memorandum of Understanding (MoU) during the Tamil Nadu Global Investors Meet 2024 in Chennai. Sankar mentioned that the initiative is expected to create an additional 500 jobs.

Sankar expressed optimism about the expansion's impact on the company's financial performance, stating, "We are right now at ₹100 crores Annual Run Rate. This expansion will potentially take our manufacturing revenue to ₹500 crores and push EcoLine to be a ₹1,000 crore brand." Ecoline Clothing, the brand launched in 2020, focuses on sustainable fashion, utilizing yarns spun from recycled plastic fibers and organic cotton.

In February, Prime Minister Narendra Modi demonstrated his commitment to eco-friendly fashion by wearing a "Chandhan" shade Sadri jacket presented by EcoLine Clothing during a Rajya Sabha session. The jacket was initially presented at the India Energy Week in Bengaluru and was also showcased at the G7 Summit in Japan.

Shri Renga Polymers' investment in expanding its PET bottle recycling capacity underscores its dedication to sustainable practices, aligning with the global shift towards eco-friendly alternatives in the fashion industry.

HBL