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Indorama, Dhunseri and Varun Beverages JV plans recycling facilities
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Thursday, 19 September, 2024, 13 : 00 PM [IST]
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Our Bureau, Mumbai
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Indorama Ventures, a global sustainable chemical producer, through its direct subsidiary, IVL Dhunseri Petrochem Industries, and Dhunseri Ventures have formed a joint venture (JV) with Varun Beverages to establish several greenfield PET recycling facilities in India. The JV has already begun the construction of two PET recycling facilities, which are planned for completion within 2025.
One facility is in Kathua district of Jammu& Kashmir, while the other is in Khurdha within Odisha. The aim is to reach 100 kiloton annual capacity of recycled PET (rPET) across all the facilities. The demand surge reflects a significant shift, with projected volumes increasing from approx. 400 kilotons in 2025-2026 to over one million tonne by 2031.
Moreover, Government compulsory requirement of 30 percent recycled plastic content in plastic packaging by 2025-2026, escalating to 60 percent by 2028-2029 reinforce the criticality of this transformation.
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