According to DFC, the proposed project will support Banyan Nation who recycles plastic waste into near-virgin quality plastic granules and sells them to major fast-moving consumer goods brands in India. The DFC loan will help increase the aggregate recycling capacity of the Company from 15,000 to 51,000 tons per annum.
The Project will support the expansion of Banyan Nation with a new facility to diversify material waste processing. The construction and operation of the recycling facility is expected to both strengthen the supply chain for recycled materials and support income growth in India. The Project is additionally expected to benefit Indian MSMEs, which are some of the main suppliers of plastics waste.
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