Sri Lanka’s largest PET recycler Eco Spindles looks to expand into Maldives
Eco Spindles Ltd., Sri Lanka’s largest recycler of PET plastic has expressed interest in expanding their recycling operation to other markets in the region, including the Maldives. Eco Spindles Ltd. is a fully owned subsidiary of BPPL Holdings PLC and is ranked amongst the Global Recycling Foundations top 10 Recycling Heroes of 2021.
The company plays a substantial role in Sri Lanka and all over the world, influencing the collection of PET plastic bottle waste, recycling it and creating value added products such as polyester yarn for apparel manufacturers and monofilaments for brush makers around the world. Polyethylene Terephthalate or PET plastic is commonly used to make drink bottles, clothing, food containers etc. and is amongst the most recyclable plastics in the world.
In Sri Lanka, they run three state-of-art plants that offer substantial and extensive inventory and rapid production roll-out, including one of only two plants in the world that create yarn directly from PET flakes. Eco Spindles Ltd. has already recycled approximately 380 million PET bottles. Around 60,000kg of PET bottles are recycled every month into high-quality polyester yarn that can be knitted or woven into fabric.
Dr Anush Amarasinghe, Managing Director and Chief Executive Officer of BPPL Holdings PLC shared his thoughts: “As a company that aspires to be a world leader in plastic recycling, we are constantly looking to create practical, long-term solutions to help maintain our environment. In the same vein, we are also looking to expand our operations into other countries in the region where a solution to the plastic bottle waste problem is required.”
There are many countries in the region, including the Maldives, where the creation of a circular economy would be beneficial both economically and environmentally, with recycling being forefront. Eco Spindles Ltd.’s recycling plants will not only add great economic value to any market it enters, but also be a great asset in helping solve the plastic waste problem.
Much like Sri Lanka, the Maldives stands to benefit from the operations conducted by Eco Spindles Ltd., as plastic, if properly disposed of and recycled, is as a valuable resource for the nation’s economy as well as a vital tool to improve the livelihoods of the people. Eco Spindles Ltd. is keen to introduce its proven expertise from Sri Lanka, into the Maldives and other countries in the region, to help solve the plastic waste problem that plagues the whole world.