Recove inks Rs 500 crore deal with Maharashtra Govt for HDPE/PP recycling

Recove Ventures Private Limited, a B2B circular economy firm focused on strengthening India’s plastic recycling supply chain, has signed an MoU with the Department of Industries, Government of Maharashtra. The agreement aims to build a comprehensive recycling and circular manufacturing ecosystem in the state over the next ten years.

The MoU was formalised at Mantralaya, Mumbai, between Dr. P. Anbalagan, Principal Secretary (Industries), and Recove’s co-founders Kunal Kumar and Viral Chhajer.

The signing was followed by discussions with Chief Minister Devendra Fadnavis on advancing circular economy initiatives and scaling recycling infrastructure in Maharashtra.

Under the decade-long partnership, Recove plans to invest over Rs 500 crore across waste processing, material recovery, aggregation, and circular manufacturing. In its initial phase, the company aims to process 5,000 tonnes of plastic waste per month, with the capacity to scale up to 1,00,000 tonnes annually as operations expand into additional recyclable streams.

The first project under the agreement will be a 1,100-tonne-per-month HDPE and PP recycling facility at Additional Jalgaon MIDC, a designated priority industrial zone. With an investment exceeding Rs 35 crore, the plant will use advanced technologies such as extrusion, granulation, and deep-vacuum deodorisation to produce high-quality recycled plastic granules for use in packaging, automotive, and consumer goods sectors.

The facility is expected to be operational between October and December 2026 and generate around 100 direct and over 1,500 indirect jobs.

Kunal Kumar, Co-Founder, Recove Ventures said, “Recycling at scale is not a single-plant problem. It is an ecosystem problem. It requires coordination, land, approvals, supply chains, skilled labour and demand-side compliance, all moving in step. Having spent years running large public programs, including India’s Smart Cities Mission, I can say with conviction that Maharashtra’s willingness to anchor this through a 10-year framework, rather than a project-by-project conversation, is exactly the policy posture that allows companies like ours to commit serious capital with confidence. We intend to match that intent on delivery.”

State government officials also highlighted that the recycling initiative aligns with Maharashtra’s vision of integrating sustainability with industrial growth. Recove believes that large-scale recycling requires coordinated ecosystem development, including infrastructure, policy support, and market demand, which the long-term framework seeks to address.