Thailand's IVL will build a PET recycling plant in Indonesia

According to a report from the ICIS website on July 6, Indorama Ventures (IVL), which is listed in Thailand, said on Tuesday that the company is building a new polyethylene terephthalate (PET) in Karawang, West Java, Indonesia.
Plastic bottle recycling plant
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The company said in a statement that the facility is expected to start in 2023 and will recycle 1.
92 billion PET plastic bottles each year to support the Indonesian government's plan to reduce marine debris
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The investment details of the new recycling plant were not disclosed
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IVL said the recycling plant will provide cleaned and shredded post-consumer bottles as raw materials for PET flakes to produce recycled resin suitable for food applications
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Indonesia’s goal is to reduce its 2017 plastic fragments by 70% by the end of 2025
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According to IVL, the PET plastic commonly used in bottles is 100% recyclable, and it is also the most collected and recycled plastic packaging in the world
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DK Agarwal, CEO of IVL’s PET, Integrated Oxides and Derivatives (IOD) and Fibers business, said: “Making waste as a raw material for new bottles has economic value and also promotes the improvement of waste collection systems
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　　As announced in 2019, IVL plans to recycle at least 750,000 tons of PET globally by 2025, with a planned investment of up to US$1.