Green India Polymers inks Rs 347 crore export deal with Canada's Meridian

Polymer recycler and trader Green India Polymers has entered into a collaboration with Canada-based Meridian Polycorp Ltd (Meridian) for the supply of PET flakes worth USD 40 million (around Rs 347 crore) over three years.

Under the partnership, the Indian PET and HDPE recycler will export 40,000 MT of PET flakes worth USD 40 million sourced primarily from underdeveloped regions, Green India Polymers said in a statement on Friday.

The partnership is aimed at incentivising waste collection, and combating poverty while ensuring compliance and delivering high-quality recycled products to brand owners worldwide, it added.

Meridian will serve as the exclusive global distributor of GIP's recycled PET flakes. With an annual recycling capacity of 8,000 MT, GIP has successfully exported over 40,000 MT of recycled PET flakes to major markets, including the United States, Mexico, Germany, Morocco, and Malaysia.

 

Amit Mani, Founder & MD of Green India Polymers said, By combining our strengths in manufacturing with Meridian's extensive supply chain expertise, we are well-positioned to meet the increasing demand for PET flakes while promoting a circular economy.

Green India Polymers (GIP), specializes in PET and HDPE recycling with a strong supply chain network across Bangladesh, India, Dubai, and Uganda.