SABIC signs Memorandum of Understanding with Pashupati Group to target recycling opportunities in India

  • Memorandum of Understanding (MoU) agreement with SABIC designed to explore, evaluate and develop local business opportunities for recycling of used plastic in India, including potential for advanced conversion to pyrolysis oil as feedstock for SABIC’s certified circular polymers.
  • Collaboration aims to contribute to Asia’s increased shift towards circularity, as SABIC experiences a growing demand for recycled products from its TRUCIRCLE portfolio of circular polymers.

Riyadh, March 25, 2024 - SABIC, a global leader in the chemical industry, has signed a Memorandum of Understanding (MoU) with Pashupati Group, a leading Indian recycler of plastic waste and supplier of high-quality recycled products, including polyolefin pellets and recycled packaging bags, with operations in North, West & Southern parts of India. The MoU is targeted at developing local recycling opportunities in India, and expanding SABIC’s global network of qualified recycling partners.

As part of the MoU, both companies will share best practices and exchange knowledge in the various processes of used plastic material, including developing methods and to add value in processing using virgin polyolefin and recycled polyolefin, to both compounded and non-compounded finished products.

Sanjay Mishra, General Manager, Engineering Thermoplastics & Performance Polymers at SABIC, states: “We are very pleased about collaborating with Pashupati Group. This is a crucial first step in our efforts to support and accelerate the transformation of India’s plastics economy towards circularity. At the same time, it expands our collaboration with experienced local recyclers in Asia as we are continuously sourcing valuable feedstock to meet the growing demand for our TRUCIRCLE portfolio of recycled, circular polymers.”

Under the execution of the MoU, Pashupati, will bring in its expertise in the mechanical and chemical processing of used plastic, while SABIC will focus on the marketing and sales of recycled products. The agreement also provides for an advanced recycling project to convert used plastic into pyrolysis oil which SABIC will then be able to use in the production of certified circular polymers with the same performance properties as virgin plastics.

Bankey Goenka, Managing Director at Pashupati Group, adds: “This MOU is an amalgamation of two champions in their own fields: Pashupati Group, a leader in plastic recycling providing quality recyclates (PET & Polyolefin) including recyclates from mountain and ocean bound plastics to the global market with a proven track record over two decades, and SABIC, a market leader driving innovative products and solutions for a circular plastics economy. This is a testament to the commitment of both SABIC and Pashupati Group towards the circular economy and contributing to the conservation of our planet.”

This MoU follows SABIC’s 2021 collaboration with Malaysia-based plastic recycling company HHI, to create polymers from recovered ocean bound and ocean plastics. The polymers have since been used to manufacture new products, including the Microsoft Ocean Plastic Mouse, as well as the Microsoft Surface Thunderbolt 4 Dock.

SABIC’s TRUCIRCLE portfolio and services includes certified circular polymers, design for recyclability, mechanically recycled products, certified renewable polymers from bio-based feedstock and closed loop initiatives to recycle plastic back into high quality applications and help prevent valuable used plastics from becoming waste.

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Notes for editors

  • SABIC and brands marked with ™ are trademarks of SABIC or its subsidiaries or affiliates.
  • SABIC is always written in uppercase. 


SABIC is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. It manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals.

SABIC supports its customers by identifying and developing opportunities in key end-use applications such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.

The company has more than 31,000 employees worldwide and operates in around 50 countries. Fostering innovation and a spirit of ingenuity, SABIC has 9,948 patents and pending applications, and has significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South Asia and North Asia.


Pashupati, one of the most compliant organization stands as a beacon of innovation, spearheading the fight against global plastic pollution for the past two decades. It’s cutting-edge technology and processes empower it to collect, segregate, and recycle plastic waste into a diverse range of high-value products, including rPET & polyolefin granules, Odor-free (Food/Non- Food Grade), specialty recycled fibers and innovative recycled packaging solutions.

Pashupati breathe new life into plastic waste, transforming it from pollutant to a valuable resource. As a responsible waste processor, it is deeply committed to environmental protection, employing advanced machinery and skilled manpower to optimize waste transformation while minimizing its ecological footprint.

Research and development are the cornerstones of its operations, ensuring it remains at the forefront of technological advancements. It is steadfast in its dedication to creating a circular economy, a crucial step towards conserving the environment for future generations.

With eight production facilities spread across India, approaching a processing capacity of 3, 00,000 Tons per year and over 3,000 direct and indirect employees, it is steadily progressing towards becoming a Waste-Neutral Group. It ensures 100% process waste recycling, and all its units adhere to controlled emissions, demonstrating its unwavering commitment to environmental stewardship.

Pashupati’s robust waste collection network, unwavering compliance with respect to corporate governance, Extended Producer Responsibility (EPR), focus on Traceability, Zero Liquid Discharge (ZLD) and Waste-to-Wealth conversion through sustainable closed-loop solutions make it an ideal partner for consumers and brand owners alike.

Pashupati is paving the way for sustainability. It is meticulously crafting a robust portfolio of stringent compliances, focused on R&D, use of state of the art technology, robust production process and comprehensive certifications for recycled plastics, establishing Pashupati as the brand owners “FIRST CHOICE”.


Related images

SABIC and Pashupati have signed a Memorandum of Understanding to explore, evaluate and develop local business opportunities for recycling of used plastic in India. On the left, Bankey Goenka, Managing Director at Pashupati Group. On the right, Janardhanan Ramanujalu, Vice President South Asia at SABIC.


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