Banyan Nation to invest Rs 200 cr in TG

Highlights

IT and Industries Minister Duddilla Sridhar Babu announced that the Banyan Nation, a pioneering startup in plastic waste recycling, is set to make a significant contribution to Telangana's circular economy with a Rs 200 crore investment for large-scale expansion.

Hyderabad: IT and Industries Minister Duddilla Sridhar Babu announced that the Banyan Nation, a pioneering startup in plastic waste recycling, is set to make a significant contribution to Telangana's circular economy with a Rs 200 crore investment for large-scale expansion.

Speaking after a meeting with Banyan Nation representatives at the Secretariat on Thursday, the Minister shared details of the company's plans. Currently operating a recycling facility in Pasamailaram Industrial Area, Patancheru mandal, with an annual capacity of 15,000 tonnes, Banyan Nation aims to triple its capacity to 45,000 tonnes.

“This expansion will generate employment opportunities for an additional 500 people,” said Sridhar Babu. The company, which specialises in recycling plastic waste, supplies its products to major corporations such as Unilever and Tata Motors. With an annual turnover of Rs 100 crore, Banyan Nation is operating profitably.

The company has requested additional land for setting up new facilities, and the Telangana State Industrial Infrastructure Corporation (TSIIC) will decide on the matter, the Minister added.

The meeting was attended by IT Advisor Sai Krishna, TGIIC CEO V Madhusudhan, Banyan Nation CEO Mani Vajipey, and COO Raj Kiran Madanagopal.