Indorama Ventures is investing $1.5 billion in its recycling business in the next 5 years. Currently, the chemical major has 11 recycling sites around the world, including plants in Thailand, Mexico and France.
The new investment is expected to include greenfield and brownfield mergers and acquisitions focusing on bottle-to-bottle recycling.
Indorama – that supplies PET plastics to brand owners such as Coca-Cola, Pepsi, Nestle – still has its main business in PET resins production – that is used to make plastic bottles and fibers.
As consumers are becoming more conscious of the environmental impact of single-use plastic and regulators are pushing for more recycling, more and more PET producers are expanding their recycling business.
Indorama also plans to invest an additional $500 million, to help its customers achieve the European Commission’s mandate that requires them to incorporate 25% of recycled plastic in PET bottles by 2025.
Find out more about PET plastics and recycling at CMT’s 9th Asia PET, Polyester & Recycling Summit on 13-15 November, 2019 in Bali.