Ganesha Ecosphere has received an approval for incorporation of a Joint Venture Company in collaboration with Race Eco Chain to set up washing plants for producing pet flakes. The Board of Directors of the company has, at its meeting held on September 4, 2024, approved the same.
On incorporation of the joint venture company, the company will acquire up to 49% stake and RACE will acquire up to 51% stake. It is a part of the company's strategic investment to strengthen its raw material supply chain of PET waste. Post incorporation of target entity, it will become an associate of the Company.
Ganesha Ecosphere is a leading PET Bottle Recycler engaged in the recycling of PET plastic bottle waste to polyster spun yarn, rPET fiber and rPET yarn.
