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Indorama Ventures to build new PET recycling plant in Indonesia

July 13/2021

MOSCOW (MRC) -- Thailand-based Indorama Ventures Public Co. Ltd. (IVL), a large producer of recycled polyethylene terephthalate (rPET) for beverage bottles, has announced plans to build a facility in Karawang, Indonesia, to recycle almost 2 billion plastic bottles a year in support of the Indonesian governments plan to reduce ocean debris, according to Recycling Today.

The facility, which is planned to open in 2023, will recycle 1.92 billion PET bottles annually and will employ 217 people.
The plant will provide the washed and shredded postconsumer bottles as PET flake feedstock to produce recycled resin that is suitable for food-contact use.

According to a news release from IVL, the new facility supports the companys global commitment to divert postconsumer PET bottles away from landfills and into the circular economy, which supports the governments National Plan of Action on Marine Plastic Debris. The nation has a goal to reduce 70% of its plastic debris from 2017 by the end of 2025.

Indorama Ventures has six Indonesian sites across Purwakarta, Cilegon, Tangerang and Karawang.

The company reports that the new recycling facility brings a circular business model to its Indonesian operations. In 2019, Indorama Ventures announced plans to recycle a minimum of 750,000 metric tons of PET globally by 2025, investing up to USD1.5 billion to achieve that goal. IVLs new plant in Karawang, along with its other recycling facilities in Southeast Asia, will work with existing PET flake production facilities in Indonesia.

As MRC reported earlier, in June 2021, IVL completed its acquisition of CarbonLite Holdings facility in Texas as part of the companys commitment to increasing polyethylene terephthalate (PET) recycling capacity. Now known as Indorama Ventures Sustainable Recycling (IVSR), the Dallas site is one of the largest producers of food-grade recycled pellets (recycled PET or rPET) in the US, with a combined capacity of 92,000 tons annually. The facility will recycle more than 3 billion PET plastic beverage bottles per year and support more than 130 jobs directly. IVL is the worlds largest producer of recycled PET for beverage bottles. With this acquisition, IVL expands its US recycling capacity to 10 billion beverage bottles a year, towards its global target of recycling 50 billion bottles (750,000 metric tons) annually by 2025.

According to MRC's ScanPlast report, Russia's estimated PET consumption grew to 263,660 tonnes in the first four months of 2021, up by 13% year on year. Bottle grade PET chips accounted fro 78.3% of the increase in consumption due to the virtual absence of exports and higher imports.

Indorama Ventures Public Company Limited, listed in Thailand (Bloomberg ticker IVL.TB), is one of the worlds leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia Pacific, Europe and Americas. The companys portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. Indorama Ventures has approx. 24,000 employees worldwide and consolidated revenue of US$ 11.4 billion in 2019. The Company is listed in the Dow Jones Emerging Markets and World Sustainability Indices (DJSI).


mrcplast.com
Author:Margaret Volkova
Tags:PET-granulate, recikling, packaging, PET bottles, Indorama Ventures PLC, Indonesia, USA.
Category:General News
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