Indorama Ventures To Invest $150 Million In Three PET Recycle Plants In India
Indorama Corporation is a pioneer in the PET recycling industry. To meet the growing recycling demand, the company has taken the decision to increase its production capacity (current capacity: 800 KT). They plan to invest 150 million US dollars to increase the recycling capacity of their existing facilities in India (Nagpur, Haldia, and Panipat).
Recently, the company also met its goal of recycling 100 billion PET bottles. This has diverted 2.1 million metric tons of waste from the environment and saved 2.9 million metric tons of carbon footprint from the product life cycle. Given its aggressive investment strategy in Asia, the company is expected to meet its recycling goal of 150 billion PET bottles by 2026. It is definitely a great milestone for the PET waste management spectrum.