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During the conference, from left to right – Prashantha Malimbadage – Deputy Managing Director Yarns (Eco Spindles), Nalaka Senavirathna -CEO Yarns (Eco Spindles), Lithmal Jayawardhana – Compere, Jerome de Mel – Sales Manager, Yarns (Econ Spindles) .
Eco Spindles (Pvt) Ltd, Sri Lanka’s largest plastics recycler, has announced plans to expand its capacity to manufacture yarn using recycled plastics, along with innovative new additions to its product range of cutting-edge and eco-friendly used by some of the world’s leading fashion brands.
The company has one of only two factories in the world capable of creating polyester yarn directly from recycled polyethylene terephthalate (PET) plastic flakes. Following the completion of the second phase of its yarn mill expansion program in April 2022, the company expects its recycled polyester yarn manufacturing capacity to increase by 120% from 100 tonnes of textured wire to be drawn per month at 220 tons per month.
For its third phase of expansion, Eco Spindles is exploring potential opportunities to expand its footprint in Sri Lanka or beyond, the company said in a press release this week.
Since its products, made from recycled PET plastics, are mainly exported, these developments pave the way for the company to generate more export revenue and foreign exchange for Sri Lanka. It also addresses the improper disposal of plastics, one of the biggest environmental problems in the world.
These developments were announced at Eco Spindles’ annual wire conference held virtually on February 14, with the company’s senior management in attendance. At the conference, Eco Spindles also congratulated its top 10 buyers of 2021.
The conference included keynote speeches from Managing Director and CEO of BPPL Holdings PLC – Dr. Anush Amarasinghe, CEO of Eco Spindles Yarns – Nalaka Senavirathna and Sales Manager of Eco Spindles Yarns – Jerome De Mel. In addition to business improvement plans, speakers also shared their insights into the ongoing fight against plastic pollution and offered promising solutions being adopted nationally with global impact.
“As passionate about the environment, we are painfully aware of the impact plastics have on nature as more than 583 billion PET plastic bottles are produced each year, 85% of which end up in landfill. We also believe that to solve this crisis, the solution is social entrepreneurship which seeks to create and support a circular economic model. It is from this understanding that Eco Spindles emerged, and we are fortunate that our customers and partners have supported us in this vital mission. We look forward to continuing to collaborate with them in the future,” said Dr. Amarasinghe.
Eco Spindles also announced plans to make recycled polyester yarn from textile waste at the conference. The company works closely and follows this innovation with leading clothing manufacturers in Sri Lanka and global clothing brands. The first commercially viable product will be launched in May 2022.
“Globally, only 20% of clothing waste is recycled or reused, while the remaining 80% is incinerated or landfilled. As Sri Lanka is a prolific exporter of garments, the ability to recycle textile waste into yarn will give the domestic industry and its global brands and retail partners a significant boost to bolster their efforts in sustainability,” said
Mr. Senavirathna.
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