Indorama Ventures PCL news

Construction starts on the world's first PET biorecycling plant in Longlaville, France, with a 2025 commissioning target. The plant will process 50,000 tons of PET waste annually, creating 150 jobs.

The joint venture will invest €230M to construct a PET biorecycling plant in Longlaville, France, with plans to start construction by end of 2023 and commission by 2025.

The plant will use enzymatic technology to recycle PET, processing 50,000 tons of waste annually. The project, costing €200 million, aims to create 150 jobs and advance the circular economy.

The new owners will start maintenance in January 2018, increasing the workforce by 10%. Production begins in the second half of 2018, with 80% for Europe and Turkey, and 20% for the Americas and Middle East.

The plant closure will not impact revenue or profitability. Customers are being served by other European plants. All actions comply with local laws and regulations.