Recove Ventures will invest Rs 500 crore in Maharashtra to expand plastic recycling, circular manufacturing, waste processing, and job creation.
Recove Ventures has signed a significant 10-year Memorandum of Understanding (MoU) with the Maharashtra government, committing to an investment of Rs 500 crore to develop a large-scale recycling and circular manufacturing ecosystem across the state. This landmark agreement, signed on May 6, 2026, aims to transform plastic waste management and foster a robust circular economy in Maharashtra over the next decade.
The core objective of the partnership is to establish a comprehensive infrastructure for waste processing, recycling, material recovery, aggregation, and associated circular manufacturing activities. In its initial phase, Recove plans to build the capacity to process 5,000 tonnes of plastic waste per month, with an ambitious goal to scale up to 100,000 tonnes per annum as the partnership expands into additional recyclable streams.
A key event under this MoU is the establishment of an advanced High-Density Polyethylene (HDPE) and Polypropylene (PP) recycling facility in Additional Jalgaon MIDC, a priority industrial zone. This first project involves an investment exceeding Rs 35 crore and is projected to have an installed capacity of 1,100 tonnes per month, with commissioning expected between October and December 2026. The facility will deploy advanced extrusion and granulation technology to produce industrial-grade granules, intended to substitute virgin plastic in various applications such as packaging, automotive, and consumer goods.
The initiative is poised to deliver substantial economic and industry-specific impacts. The Rs 500 crore investment underscores a strong commitment to the recycling sector, which is projected to see significant growth in India, with the market value estimated to reach USD 4.03 billion by 2030. Furthermore, the project is anticipated to create 100 direct jobs and over 1,500 indirect jobs, providing employment opportunities within the state. By transforming post-consumer plastic into valuable raw material, Recove aims to build durable infrastructure that diverts waste from landfills and reintroduces it into the economy. This addresses a critical challenge in India, where less than 20% of plastic waste is effectively recycled due to a fragmented supply chain.
Geopolitically and industrially, this collaboration highlights Maharashtra's proactive stance in promoting sustainable waste management and circular economy principles. The state's supportive government, industrial depth, clear policy framework, and market access were cited as crucial factors for Recove's decision to scale its operations there. This aligns with Maharashtra's broader efforts, including previous partnerships for PET bottle collection and recycling. Recove Ventures, as a B2B circular economy company, aims to replace informal and fragmented supply chains with an organized, traceable, and quality-assured system for India's plastic recycling industry. The company already has existing pre-processing operations in Pune and a flagship facility in Bangalore, demonstrating its established presence and expertise in the sector.
