Race Eco Chain Limited — Updates, 03-02-2025: Press Release

Race Eco Chain Ltd has formed a joint venture with Ganesha Ecosphere Ltd to create Ganesha Recycling Chain Private Limited, aimed at addressing the increasing demand for recycled PET (rPET) flakes. Race Eco Chain will hold a 51% equity stake in the venture, while Ganesha Ecosphere will hold 49%. This partnership is timely, given India's growing plastic waste generation and regulatory mandates that require substantial recycled plastic content in packaging—30% by 2025-26 and 60% by 2028-29. The demand for PET flakes is anticipated to exceed 1 million tons by 2031, positioning the joint venture favorably within this expanding market.

By integrating washing line operations into its existing supply chain, Race Eco Chain aims to enhance profit margins and strengthen its position as a key player in the ESG-compliant waste management sector. This strategy not only supports their operational goals but also leverages Ganesha Ecosphere's extensive experience and resources, promising mutual benefits for both companies. Investors should look closely at this development, as it indicates positive growth potential amid evolving regulatory pressures and market demands.