Parle Agro to invest Rs 50 cr for Recycling PET bottles
Beverages major Parle Agro said on Monday that it would invest Rs 50 crore over the next three years to implement an end-to-end PET plastic waste management programme.
In a statement issued here, the company said that it has partnered with the Indian Pollution Control Association and Nepra for collecting and recycling 100 per cent of its PET bottle waste and channel them to textiles and other non-allied industry segments.
Under this programme, Parle Agro plans to facilitate an annual collection of 310 crore PET bottles, recycling nearly 50,000 tonne of PET waste.
"We are committed to invest Rs 50 crore in the next three years towards this endeavour. Given our 30 per cent growth rate, our 'PET sustainability' investments will most definitely increase every year," Nadia Chauhan, Managing Director and Chief Marketing Officer at Parle Agro, was quoted as saying in the statement.