Strategic Cooperation Overview
Recove Ventures Private Limited, an Indian enterprise focused on the plastic circular economy, has signed a Memorandum of Understanding (MoU) with the Industrial Department of the Government of Maharashtra to establish a large-scale plastic recycling and circular manufacturing ecosystem across the state.
10-Year Investment & Phased Capacity Layout
Under this 10-year cooperation framework, Recove Ventures plans to invest over 5 billion Indian rupees (approximately 361 million Chinese yuan) in waste treatment, material recovery, centralized waste collection and other circular manufacturing initiatives throughout Maharashtra. In the first phase, the company aims to achieve a monthly plastic waste processing capacity of 5,000 tons, with a planned scale-up to an annual processing volume of 100,000 tons in the coming years.
Flagship Recycling Project Details
As stipulated in the MoU, the flagship inaugural project will be a state-of-the-art HDPE and PP recycling facility to be constructed at Additional Jalgaon MIDC in Jalgaon district, Maharashtra. With an investment ofmore than 350 million Indian rupees (around 25.27 million Chinese yuan), the plant will feature a monthly processing capacity of1,100 tons. Adopting advanced extrusion and granulation technologies alongside a high-efficiency deep vacuum deodorization system, the facility will produce industrial-grade plastic pellets for applications in the packaging, automotive and consumer goods industries.
Operation Schedule & Employment Contribution
Scheduled to commence operations between October and December 2026, the project is expected to generate 100 direct jobs and over 1,500 indirect employment opportunities for the local community.
Government Policy Support
The Government of Maharashtra will fully support the project by allocating land within MIDC industrial zones and upcoming circular economy parks, providing one-stop administrative approvals, and offeringcomprehensive industrial policy incentives. Dr. P. Anbalagan, Chief Secretary of the Department of Industry, Investment and Public Services, Government of Maharashtra, stated that the state is committed to fostering an industrial ecosystem that integrates robust economic growth with long-term sustainability.
Enterprise Perspective & Industry Insight
Viral Chhajer, Co-Founder of Recove Ventures, remarked that the initiative represents far more than a single manufacturing plant, but a long-term circular economy infrastructure system designed to convert post-consumer plastic waste into high-quality industrial raw materials. Kunal Kumar, the company’s fellow Co-Founder, noted that large-scale plastic recycling relies on a complete ecosystem covering supply chain integration, administrative approval support, land allocation and market demand alignment, while praising Maharashtra’s forward-looking and consistent long-term policy framework.
Company Existing Operational Layout
Recove Ventures currently operates recycling facilities in Pune and Bengaluru. Its pre-processing plant in Pune commenced trial operations in April 2026, while the Bengaluru site now handles more than 415 tons of plastic waste per month.
Source: entrepreneurindia
