Indorama Ventures eyes India with investment of US$150M in three PET recycling plants

INDIA – Bangkok-based Indorama Ventures Public Co Ltd is set to invest US$150 million in three PET recycling plants in India, with commercial production slated to begin in 2026.

The company has already secured basic regulatory approvals and is in the process of land acquisition, aiming to build these plants near its existing PET-producing facilities in Haldia, Nagpur, and Panipat.

These recycling plants will supplement the firm’s current PET production of 800,000 tonnes per year, serving both Indian and export markets.

PET (polyethylene terephthalate) is a durable material that can be recycled multiple times, aligning with global efforts to reduce new product manufacturing from fossil fuels.

Indorama Ventures Group CEO Aloke Lohia said the company is focused on scaled production in India, pointing to the insatiable local demand and export potential.

“There are so many applications in the automobile industry,” he said and singled out the potential of airbags in automobiles.

“We have the technology and base material nylon and polyester that is used to make airbags, which are mandatory in automobiles in Western markets.

 “We will want to do more than just replace imports of components, such as airbags, that are used by automobile manufacturers in India.”

Lohia expects demand for products made with advanced technologies to pick up in the Indian market as the country progresses economically and accelerates industrialization programs.

“We started in India about six years ago and are confident of prospects given the bright market outlook and the opportunities for growth,” he said.

Indorama Ventures is optimistic about business prospects in India, particularly in the manufacturing sector, driven by strong local demand and government-led export promotion initiatives.

The company is exploring opportunities in advanced technology-based auto components, including airbags, to cater to the Indian market’s evolving needs as the country advances economically and industrializes further.

Early last month, the company revealed plans to invest US$20 million to expand its recycling facility in Brazil.

According to Indorama, the investment will help optimize the facility’s processes and acquire new equipment such as washing machines to help remove labels, grind bottles in water and reduce water consumption by 70%.

The move was supported by a “Blue Loan” from the International Finance Corporation (IFC), a member of the World Bank.

The recycling facility, located in Juiz de Fora, Brazil, is increasing its production capacity from 9,000 metric tonnes to 25,000 metric tonnes of PET, made annually from PCR PET material.

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