Indorama Ventures forms joint venture for PET recycling facilities in India

Indorama Ventures Public Co. Ltd. (IVL), a global leader in sustainable chemical production, through its subsidiary IVL Dhunseri Petrochem Industries Ltd. and in partnership with Dhunseri Ventures Limited, has formed a joint venture with Varun Beverages Limited, PepsiCo’s second-largest bottling company outside the US. The collaboration aims to set up state-of-the-art PET recycling facilities across India, marking a significant step towards fulfilling the country’s growing demand for recycled PET (rPET) and reinforcing the companies’ commitment to sustainability.

The joint venture has commenced the construction of two PET recycling facilities, scheduled for completion by 2025. One facility is located in Kathua, Jammu and Kashmir, in Northern India, and the other in Khurdha, Odisha, in Eastern India. The combined capacity of these facilities is expected to reach 100 kilotons of recycled PET annually, with the potential for further expansion.

Yash Lohia, executive president of Petchem Special Projects and chairman of the ESG Council of Indorama Ventures, expressed his enthusiasm for the collaboration, stating, “We at IVL Dhunseri are delighted to collaborate with Varun Beverages in establishing these mechanical recycling facilities in India. As the world’s largest recycler of PET, this partnership underscores our commitment to sustainability and our support for the region’s increasing demand for rPET content.”

The collaboration between Indorama Ventures, Dhunseri, and Varun Beverages is poised to enhance the recycling infrastructure in India. With regulatory frameworks pushing for increased use of recycled content, this joint venture is set to play a crucial role in meeting these evolving demands.