Thai PET major Indorama Ventures commits US$1.5 bln in recycling

24-Aug-19

Thai PET major Indorama Ventures has committed US$1.5 bln in recycling as consumers become more aware of the environmental impact of single-use plastic and regulators push for more recycling. The investment would include greenfield and brownfield mergers and acquisitions focusing on bottle-to-bottle recycling.

Indorama has 11 recycling sites around the world, including plants in Thailand, Mexico and France, and aims to step up its green credentials in response to new regulation being rolled out by governments as well as changing expectations from customers. In March the European Commission announced a target to incorporate 25% of recycled plastic in PET bottles by 2025, with a targeted 90% collection rate. After 2023 Indorama plans to invest an additional US$500 million by 2025 to help its customers to achieve the 25% target, Lohia added.