The recycled polyethylene terephthalate (R-PET) capacity will be increased by Indorama Ventures Public Company Ltd to reach 750,000 tonnes per year by 2025.
As a part of building a circular value chain for PET, Indorama’s Chief Executive Officer of Feedstock and PET Business said the strategic step has been taken by the company to invest in and create global recycling assets to support its brand owners to reach their PET recycled content goals.
The company also looks to have a return on capital employed of around 12 percent-14 percent by 2025.
Indorama has already expanded its mechanical recycling capacities with its flake processing facilities in Spijk (the Netherlands) and Verdun (France) which produce flakes for conversion to food-grade and fibre-grade material in Ireland.
Indorama further expanded its European operations in 2018 which enhanced its recycling portfolio with food-grade R-PET. With a partnership with Ioniqa in the Netherlands and a joint venture with Loop Industries in the US, the company has invested in advanced chemical recycling technology.
