LNJ GreenPET, a division of India-based LNJ Bhilwara Group, has signed a memorandum of understanding (MoU) with the Japan-based Sumitomo Corporation to enhance the recycled polyethylene terephthalate (r-PET) sector in India.
The MoU covers commercial development, raw material procurement, marketing strategies and potential investment opportunities for LNJ GreenPET's upcoming r-PET project.
The companies will conduct a joint market study on the r-PET landscape in India to provide insights through market sizing, customer segmentation, technical assessments, supply chain benchmarking and regulatory feasibility analysis.
Its findings will be crucial for LNJ GreenPET as it prepares to commence commercial production in 2026.
Sumitomo will assist in sourcing r-PET flakes from Southeast Asia and other regions globally to facilitate the project's pre-production phase.
The partnership will extend to pre-marketing activities, customer engagement and the establishment of sales channels, catering to domestic and international markets.
LNJ Bhilwara Group chairman Riju Jhunjhunwala stated: “This MoU with Sumitomo Corporation is a significant step towards strengthening India’s circular economy ecosystem. By combining Sumitomo Corporation’s global expertise with our vision for sustainable plastic recycling, we aim to create a robust r-PET value chain that addresses both domestic and global demand for sustainable packaging solutions.”
The collaboration aligns with the country's sustainability objectives and aims to contribute to the reduction of plastic waste by leveraging advanced technologies and international partnerships.
Sumitomo Green Chemical SBU unit general manager Yutaka Takamura stated: “It’s an honour to partner up with LNJ GreenPET in advancing the r-PET sector in India. This collaboration allows us to combine our global experience with LNJ GreenPET’s local expertise to support the development of a strong circular economy.
"Together, we aim to create innovative, sustainable solutions that address both domestic needs and global demand."
