The Government of Maharashtra has signed a ten-year Memorandum of Understanding (MoU) with Bengaluru-based Recove Ventures Private Ltd to develop a large-scale plastic recycling ecosystem across the State.
The partnership, which involves an investment commitment of more than ₹500 crore, aims to strengthen India’s underdeveloped recycling infrastructure for high-density polyethylene (HDPE) and polypropylene (PP) plastics. As part of the initiative, Recove Ventures will establish its first recycling facility at Additional Jalgaon MIDC, a priority D+ industrial zone in Maharashtra. The project will involve an investment of over ₹35 crore and will have the capacity to process around 1,100 tonnes of HDPE and PP waste every month. The facility will use advanced extrusion, granulation and deep-vacuum deodorisation technologies to manufacture industrial-grade recycled plastic granules for sectors such as packaging, automotive and consumer goods manufacturing. Construction and commissioning are expected between October and December 2026, and the plant is projected to create nearly 100 direct jobs along with more than 1,500 indirect employment opportunities.
Under the first phase of the partnership, Recove Ventures plans to build processing capacity for 5,000 tonnes of plastic waste per month, while the long-term target is to scale total recycling capacity to nearly 1,00,000 tonnes annually over the ten-year period. To support the initiative, the Maharashtra government will facilitate priority land allotment in MIDC industrial areas, provide single-window clearance assistance and extend applicable industrial incentives. The project aligns with the State’s broader focus on circular economy development, sustainable manufacturing and scientific plastic waste management. The agreement also aims to address a major gap in India’s recycling ecosystem, as PET recycling rates in the country are estimated at nearly 95 per cent, while recovery rates for HDPE and PP remain below 30 per cent despite their extensive use in packaging, automotive parts and consumer products.
The partnership comes at a time when regulatory pressure on manufacturers is increasing under India’s Extended Producer Responsibility (EPR) framework. Brands are currently required to include around 30 per cent recycled plastic content in products, with the mandate expected to rise to nearly 60 per cent over the next two to three years. Industry estimates suggest that India could lose recyclable plastic value worth nearly $36 billion between 2025 and 2030 if recycling infrastructure gaps are not addressed. Meanwhile, Recove Ventures has already started expanding its operational footprint across India. The company began test runs at its Pune pre-processing facility in April 2026, while its Bengaluru recycling plant has been processing more than 415 tonnes of plastic waste per month since late 2025. According to the company, it has achieved nearly 12-fold revenue growth over the past six months and currently serves more than 30 recycling partners with an approximate 90 per cent repeat order rate, reflecting rising demand for recycled HDPE and PP materials in the domestic market.