Bangkok-based Indorama Ventures Public Co. Ltd. and France-based Carbios have announced plans for a joint venture to build a PET biorecycling plant in France. Total capital investment is estimated around 230 million euros. Contract documentation should be finalized by the end of 2023, and both companies have acknowledged support for the project to move forward.
The memorandum of understanding signed between the two companies gives Carbios 13 hectares of land from an existing Indorama Ventures PET plant in Longlaville, France.
Permits are expected in Q3 2023 with construction to begin by the end of the year. The companies aim to commission the plant in 2025.
“Today’s announcement is a significant landmark in our partner-ship with Indorama Ventures and a major step forward in realizing our joint first-of-a-kind PET biorecycling plant,”said Emmanuel Ladent, CEO of Carbios.“The technical due diligence jointly undertaken with Indorama proves the robustness of Carbios’ disruptive technology. At Carbios, we are committed to bringing plastic and textiles into the circular economy. Our first reference unit at Longlaville is a springboard for our industrial and commercial deployment worldwide in order to reach our leadership goals in advanced recycling of PET.”