Hyderabad: Major Expansion in Plastic Recycling Announced
IT and Industries Minister Duddilla Sridhar Babu revealed that Banyan Nation, a leading plastic waste recycling startup, is planning a large-scale expansion in Telangana. The company will invest Rs 200 crore to boost its contribution to the state’s circular economy.
Currently, Banyan Nation operates a recycling facility in the Pasamailaram Industrial Area, located in Patancheru mandal. This facility processes 15,000 tonnes of plastic waste annually. The new expansion will triple this capacity to 45,000 tonnes per year.
“This project will create 500 new jobs,” said Minister Sridhar Babu. Banyan Nation is known for recycling plastic waste and supplying high-quality recycled products to big companies like Unilever and Tata Motors. The company has an annual turnover of Rs 100 crore and is running profitably.
To support their growth, Banyan Nation has requested additional land to build new facilities. The Telangana State Industrial Infrastructure Corporation (TSIIC) is currently evaluating this request, according to the Minister.
The announcement came after a meeting at the Secretariat. Notable attendees included IT Advisor Sai Krishna, TSIIC CEO V Madhusudhan, Banyan Nation CEO Mani Vajipey, and COO Raj Kiran Madanagopal.
