Indorama plans to increase rPET production capacity by more than 2 times
Resin giant Indorama Ventures revealed in its recently released 2019 financial report that in the next few years, the company plans to increase its global rPET capacity by more than twice.
The company said: “In 2020, recycling will be the main beneficiary of capital. Each acquisition or (capital expenditure) in the recycling process will be between 30-40 million US dollars.
“Thailand-based Indorama Ventures believes that many brands have set clear targets for increasing the content of rPET in beverage packaging. PET collection and recycling supporting services are relatively mature, and PET will continue to be the main application material in the beverage packaging industry.
In the coming years, the growing demand for rPET will be transformed into Indorama’s main investment project. Globally, Indorama plans to invest $ 1.5 billion by 2025 to expand its recycling footprint. The company has pledged to increase its PET recycling capacity to 750,000 metric tons by 2025. The report shows that as of the end of 2019, Indorama’s annual PET recycling capacity is approximately 207,000 metric tons.
Indorama recently signed a long-term agreement with Procter & Gamble to provide rPET to Procter & Gamble for the production of packaging for the Pantene, Hifee and Herbal Essence product lines.
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