Chemical company Indorama Ventures plans to invest $150 million in three PET recycling plants in India to boost its production of RPET.
Commercial production will start up in 2026 for the projects, which will be located close to three of the company’s existing plants. The new facilities will increase Indorama’s current capacity of 800,000 metric tons per year of production for Indian and export markets.
In 2022, Indorama also established recycling facilities in Poland, the Philippines and France.
The company recently shared its 2022 sustainability report, noting in it that Indorama’s post-consumer PET bale input increased by 8% to 342,961 tons in 2022. From 2011 through 2022, the company used 1.9 million tons of post-consumer bales.
Indorama’s goal is to recycle 750,000 tons of post-consumer PET bales by 2025 and 1.5 million tons by 2030. The company is already 46% of the way to reaching its 2025 target, and it plans to make an overall investment of $1.5 billion to reach that target.
Another goal is for 16% of Indorama’s feedstock to be bio-based and for 23% to be post-consumer by 2023. In 2022, 5.25% of its feedstock consisted of post-consumer PET.
Indorama has earmarked $7 billion for sustainability capital expenditure investments into decarbonization, recycling and biomass projects by 2030. It has also committed to investing $3.7 billion into chemical recycling technologies.