THAILAND – Indorama Ventures Public Company Limited (IVL) is investing in a new recycling plant in Thailand to recycle used PET bottles, and a gas engine project in Indonesia to further reduce its carbon footprint.
Sited in Nakhon Pathom Province, near Bangkok, where IVL’s subsidiary Indorama Polyester Industries Polyester Fibers and Yarns plant is located, the new recycling plant will be able to recycle 36,000 tonnes of PET bottles annually to make about 28,500 tons of recycled polyester.
The recycled material can be used to produce high quality resin for making containers for consumer drinks; yarns for premium garments of environmentally-conscious brands and colored fibers for automotive and non-woven end applications.
One of Thailand largest private recycler Wongpanich will deliver the discarded bottles to the facility for recycling.
The project is targeted to commence operations by the fourth quarter of 2012.
"While there are many companies working in recycled polyester, there are only a handful of manufacturers who are able to make the quality of recycled product suitable for premium applications, and there is unmet demand for recycled products,” said the integrated polyester value chain producer’s Group CEO Aloke Lohia.
“Indorama Ventures has launched the ECORAMA brand for its recycled Polyester Fibres and Yarns products and has recently been awarded a Green Label certificate by the Thailand Environment Institute. Financially, we expect this project to be accretive to the bottom line."
In addition, the Thai-listed company is investing $6.7 million into a Gas Engine project in Indonesia, to replace liquid fuels with cleaner natural gas that will reduce the company’s carbon emissions by about 8,000 metric tons annually.
“This is in line with our commitment to the environment,” elaborated Lohia. “Both projects are expected to lower the company’s impact on the environment, in line with our commitment to sustainability and recycling as core focus areas.”
Besides Thailand and Indonesia, IVL also has Asian manufacturing facilities in China, as well as production in Europe and America. Its products serve major players in diversified end use markets, including food, beverages, personal and home care, health care, automotives, textile, and industrial. The company's main products are PTA, PET and Polyester fibre, which are distributed globally. IVL has approximately 7,996 employees worldwide and in the last 12 months consolidated revenue of $3.6 billion.