Plastic waste recycling start-up Banyan Nation to invest ₹200 cr. for expansion

Leadership team meets Industries and IT Minister Sridhar Babu, seeks land for new facilities that will generate 500 more jobs

Plastic waste recycling start-up Banyan Nation plans to invest ₹200 crore for expansion and is seeking additional land to set up new facilities from Telangana government.

Banyan Nation, which operates a 15,000-tonnes-a-year recycling facility in Pashamylaram Industrial Area, near Hyderabad, at present plans to create new facilities to take the annual capacity to 45,000 tonnes. The expansion project will generate employment opportunities for an additional 500 people, Industries and IT Minister D. Sridhar Babu’s office said on Thursday after the company’s leadership met him.

Appreciating the company’s role in creating a circular economy in Telangana, the Minister said TGIIC will look into its request for additional land to set up new facilities. Banyan Nation CEO Mani Vajipey and COO Raj Kiran Madanagopal met the Minister. IT Advisor to the Minister Sai Krishna and TGIIC CEO V. Madhusudhan were present.

Banyan Nation’s efforts align with the government’s vision of promoting sustainability and fostering innovative enterprises that contribute to the State’s economic and environmental goals. The company supplies its products to major corporations such as Unilever and Tata Motors. It has an annual turnover of ₹100 crore.

Published - November 28, 2024 06:20 pm IST