VeeCycle Works Signs MoU with AP Govt for Rs 150 Cr Recycling Project in Visakhapatnam
Visakhapatnam: VeeCycle Works, a Sona Group venture focused on converting industrial waste into valuable resources, today signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh at the first AP Regional Investment Conference 2026 in Visakhapatnam.
The conference, held in the run-up to the CII Partnership Summit 2026, saw Sona Group Vice Chairman Chocko Valliappa sign the MoU in the presence of Mr TG Bharath, Minister of Industries, Commerce & Food Processing; and Mr B C Janardhan Reddy, Minister for Roads & Buildings, Infrastructure and Investment, Govt of AP.
The MoU signed on behalf of the Government of Andhra Pradesh by Mr Sagili Shan Mohan, IAS, Chief Executive Officer, Andhra Pradesh Economic Development Board (APEDB).
Mr K Rammohan Naidu, Union Minister of Civil Aviation, chief guest at the event, posed with the Vee Cycle Works team, AP Government Ministers TG Bharath and B C Janardhan Reddy and CEO of APEDB.
Under the terms of the MoU, VeeCycle Works will establish advanced waste-to-resource facilities in Visakhapatnam, entailing an investment of Rs 150 crore.
Built around the idea of ‘From Residue to Resilience’, VeeCycle Works aims to recycle one million tonnes of industrial and plastic waste annually. The initiative will help reduce the burden on landfills, lower dependence on virgin resources and contribute to strengthening India’s circular economy.
Steel waste, reimagined
Steel plants generate millions of tonnes of slag every year, and much of it sits unused in stockyards. VeeCycle Works will reprocess this residue to recover ferrous metal and produce construction-grade materials, turning a disposal problem into a resource for industry and infrastructure.
Plastic waste to crude oil
The company will also set up a plastic-to-oil facility that uses advanced conversion technology to turn non-recyclable plastic waste into crude oil. This keeps plastic out of landfills, waterways and the coastline, and creates a new fuel feedstock from material that would otherwise be lost.
Visakhapatnam’s strong industrial base and connectivity through port, road and rail make it an ideal location to anchor India's circular economy. The MoU reflects the state's push for sustainable industrial growth, investment and local employment.
"Waste is only a resource we haven't yet learned to use. VeeCycle Works exists to turn residue into resilience, for industry, for communities, and for the environment. We are grateful to the Government of Andhra Pradesh for its partnership and vision," said Chocko Valliappa, Vice Chairman, The Sona Group and Managing Director, Vee Technologies.
Project at a glance
Investment: Rs 150 crore
Capacity: One million MT of waste recycled annually
Employment: 60 jobs
Impact: Reduced landfill, lower emissions and less pressure on natural resources
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