Parle Agro, the manufacturer of beverage brands like Frooti and Appy, and packaged drinking water Bailey, on Monday announced an investment of ₹50 crore for plastic waste management.
The ₹5,000-crore revenue company aims to achieve 100 per cent recycling of PET bottles by October.
The announcements from the company come amid a heightened government focus lately on the perils of plastic usage and at the cusp of the launch of a nationwide campaign which will make certain practices mandatory.
Its Managing Director Nadia Chauhan said the aim to have 100 per cent PET bottle requires an acceleration in ongoing environment and sustainability initiatives and doubling of investments. “We are committed to invest ₹50 crore in the next three years towards this endeavour,” she said. The company has tied up with Indian Pollution Control Association to collect and recycle 100 per cent of its PET bottle waste.