Arvind Limited, PurFi Global collaborate to combat massive textile waste problem; mulls investment of ~Rs250 crore
India Infoline News Service |
21 Nov, 2022 |
Arvind Limited, India's largest textile-to-technology conglomerate, and PurFi Global LLC, a sustainable technology company specialising in rejuvenating textile waste into virgin quality products, announced a joint venture to reduce the textile waste that ends up in landfills.
PurFi's proprietary technology has evolved as a proven and complete solution for rejuvenating textiles back into virgin-like fibres as the fashion industry has embraced calls for more circular and sustainable supply chains, said the company on Monday.
PurFi and Arvind will establish the first of a planned series of fibre rejuvenation facilities near one of Arvind's manufacturing facilities in India.
This facility will convert textile waste - white cotton, coloured cotton, denim, and synthetics - into virgin-like fibres for reuse via two lines, each with a capacity of 5,500 tonnes per year, and plans expansion over the next five years. The investment for these two lines is expected to be in the range of Rs200-250 crore.
PurFi's expansion plans include a new production line that removes elastomers from fabrics using another of the company's proprietary technologies. Currently, elastomers make up 85% of the world's apparel, making recycling and rejuvenation extremely difficult.
PurFi's technology is the first commercially viable technology that has been proven to safely remove elastomers without the use of toxic chemicals while preserving the host fibre and allowing the elastomers that were removed to be recycled.
The joint venture will begin construction in the fourth quarter of 2022, with full production beginning in the fourth quarter of 2023.
At around 1.08 PM, Arvind Limited was trading at Rs91.30 down by 0.11% from its previous closing of Rs91.40 on the BSE. The scrip touched intraday high and low of Rs91.90 and Rs90.65 respectively.
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