Sona Group venture VeeCycle Works has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to establish advanced waste-to-resource facilities in Visakhapatnam, entailing an investment of ₹150 crore.
The agreement was signed on Tuesday at the first Andhra Pradesh Regional Investment Conference 2026, held ahead of the CII Partnership Summit 2026.
Sona Group Vice-Chairman Chocko Valliappa signed the MoU in the presence of Minister of Industries, Commerce & Food Processing T.G. Bharath and Minister for Roads & Buildings, Infrastructure and Investment B.C. Janardhan Reddy. Union Minister of Civil Aviation K. Rammohan Naidu graced the event as chief guest.
Built on the theme ‘From Residue to Resilience’, VeeCycle Works aims to process one million tonnes of industrial and plastic waste annually. The initiative will alleviate landfill pressure, cut reliance on virgin resources, and bolster India’s circular economy.
Steel slag and plastic valorisation
The company will reprocess steel plant slag to recover ferrous metals and yield construction-grade aggregates. Additionally, a specialised plastic-to-oil facility will use advanced conversion technology to transform non-recyclable plastic waste into crude oil, preventing coastal accumulation and generating alternative fuel feedstock.
Officials noted that Visakhapatnam’s robust industrial base and connectivity via port, road, and rail make it an ideal anchor for sustainable growth.
“Waste is only a resource we haven’t yet learned to use. VeeCycle Works exists to turn residue into resilience,” said Mr. Valliappa.
The venture will generate 60 direct jobs, advancing regional environmental compliance.
Published – October 07, 2026 09:17 pm IST
