To create 100% sustainable Flexible Intermediate Bulk Containers (FIBC) or Jumbo Bags made of Polyethylene Terephthalate (PET) and recycled PET, Umasree Texplast of Ahmedabad has teamed up with Brazil’s Packem to establish a production facility close to Ahmedabad (rPET).
A $15 million (about Rs. 120 crore) investment would be made to build up the plant.
Packem will own 51 per cent of the joint venture, Packem Umasree Pvt. Ltd., while Umasree will own 49 per cent of the shares. According to reports, Packem is the first Brazilian business to manufacture FIBC/Jumbo Bags made of 100 per cent sustainable PET/PCR (rPET). Additionally, the JV Packem Umasree will start making FIBC/Jumbo Bags from 100 percent recycled PET before any other company in India.
