Dalmia Polypro to raise $30 mn

Mumbai: The US International Development Finance Corporation (DFC) on Wednesday committed $30 million to Dalmia Polypro Industries for building a plastic recycling facility in Maharashtra. Dalmia, which produces high-quality recycled materials from post-consumer plastic waste, will raise the money from external commercial borrowing (ECB) route to fund the new recycling facility in Nashik, DFC said in a statement. It said the new facility will support improvements in India’s plastic waste value chain and expand the capacity to reduce plastic waste, DFC’s regional managing director for South Asia, Ajay Rao, said. The statement said the facility will have a recycling capacity of 1,71,000 metric tonne per year, and help Dalmia Polypro develop food-grade recycled materials and applications.