Sumitomo will source r-PET flakes from Southeast Asia
LNJ GreenPET, a part of the LNJ Bhilwara Group of Noida, has signed a Memorandum of Understanding (MoU) with Japanese industrial group Sumitomo Corporation to establish a strategic collaboration in the rapidly growing recycled polyethylene terephthalate (r-PET) sector in India.
The agreement outlines a multi-pronged framework for cooperation, encompassing commercial development, raw material procurement, marketing, and potential investment opportunities for the company’s upcoming r-PET project in India http://commerce.gov.in.
As part of the partnership, both companies will jointly conduct a comprehensive market study on the r-PET landscape in India. The study will include market sizing, customer segmentation, technical assessments, supply chain benchmarking, and regulatory feasibility. These insights will serve as the foundation until LNJ GreenPET begins commercial production in 2026.
To support the project during its pre-production phase, Sumitomo Corporation will facilitate interim sourcing of r-PET flakes from Southeast Asia and other global regions. Additionally, the two companies will collaborate on pre-marketing activities, customer engagement, and the development of sales channels in both domestic and international markets https://www.bseindia.com/.
Commenting on the collaboration, Riju Jhunjhunwala, Chairman at LNJ Bhilwara Group, said on 8 Sept, “This MoU with Sumitomo Corporation is a significant step towards strengthening India’s circular economy ecosystem. By combining Sumitomo Corporation’s global expertise with our vision for sustainable plastic recycling, we aim to create a robust r-PET value chain that addresses both domestic and global demand for sustainable packaging solutions https://www.makeinindia.com/home/.”
Added, Yutaka Takamura, General Manager of Green Chemical SBU, “It’s an honour to partner up with LNJ GreenPET in advancing the r-PET sector in India. This collaboration allows us to combine our global experience with LNJ GreenPET’s local expertise to support the development of a strong circular economy. Together, we aim to create innovative, sustainable solutions that address both domestic needs and global demand.”
This partnership underlines LNJ GreenPET’s commitment to pioneering large-scale recycling solutions in India. It also supports national sustainability goals and contributes to reducing plastic waste through advanced technologies and international collaborations https://www.nseindia.com/.
LNJ GreenPET is focused on pioneering sustainable solutions in the plastics recycling sector. With cutting-edge technology and a strong vision for a cleaner future, the company aims to drive innovation in food-grade r-PET production, aligning with India’s mission to reduce plastic pollution and promote circular economy practices. Fiinews.com
