JC Global raises Rs 90 crores for plastics recycling in India

Tamil Nadu-based plastics recycler Jayachandran Global Refineries Pvt Ltd (JC Global) has raised $9.5 million from Circulate Capital to expand its recycling operations and build a multi-plant network in India.

JC Pradeep, CEO, JC Global, said, “We are proud to announce that Circulate Capital has invested US$9.5 million (₹90 Crores) in JC Global Refineries Pvt Ltd, marking an important milestone in our journey to scale circular plastics in India.”

Circulate Capital has acquired a significant minority stake in JC Global, marking its eighth investment in India and the first from its Asia Fund II, which recently achieved a first close of $220 million. At least half of the fund’s targeted $300 million deployment is expected to go towards South Asia.

JC Global processes difficult-to-recycle plastic waste generated from automobiles and large appliances into recycled polyolefins and other materials used by the automotive and electronics industries.

The company will use the new funding to establish additional facilities in Tamil Nadu and increase production of recycled polypropylene, HDPE and ABS resins. It also plans to add chemical recycling capabilities to recover plastics that cannot be processed through mechanical recycling.

JC Global aims to increase its annual plastic waste processing capacity to nearly 100,000 tonnes. The company estimates that its expanded operations could help avoid more than 190,000 tonnes of CO2e emissions annually.

JC Pradeep further added, “It is about keeping valuable materials in circulation, reducing plastic waste going to landfills, creating high-value circular feedstocks, and building a more resource-efficient future.”

Plastics in India

India generates around 26,000 tonnes of plastic waste every day, which makes about 9.3–9.5 million tonnes annually. As per estimates by Mordor Intelligence, about 60% of this waste is recovered and recycled, a rate higher than many global averages. However, independent environmental assessments have pointed to significant gaps between formal records and actual recycling, particularly due to the large informal waste-processing sector.