SK CHEMICALS
Chemical recycling: MoU with China's Shuye for JV on building depolymerisation plant / rBHET and rPET in Shantou
 General manager of SK Chemicals (Shanghai) Park No-hyuk (r.) and Im Soo-gwang, division president of Shuye (Photo: SK Chemicals) |
South Korean resin maker SK Chemicals (SKC, Seoul; www.skchemicals.com) signed a Memorandum of Understanding (MoU) agreement with Shuye Environmental Technology (Shantou, China; www.shuye.com.cn) to build a depolymerisation plant in Shantou, Guangdong, with a production capacity of 100,000 t/y of chemically recycled BHET.
The rBHET will be used as raw material for a facility it plans to build to process 200,000 t/y of chemically recycled PET and copolyester. The products are to be sold to the global market.
The two companies plan to complete the signing of the agreement within this year. Commercial production is planned by the end of 2024.
The size of the investment was not disclosed but SK Chemicals will own more than 51% interest in the joint venture.
SKC said it is also considering investing in “green material production facilities” with an annual capacity of 50,000 t in 2025. It plans to expand its recycled plastics business capabilities by “securing global bases”.
The rBHET will be used as raw material for a facility it plans to build to process 200,000 t/y of chemically recycled PET and copolyester. The products are to be sold to the global market.
The two companies plan to complete the signing of the agreement within this year. Commercial production is planned by the end of 2024.
The size of the investment was not disclosed but SK Chemicals will own more than 51% interest in the joint venture.
SKC said it is also considering investing in “green material production facilities” with an annual capacity of 50,000 t in 2025. It plans to expand its recycled plastics business capabilities by “securing global bases”.
13.09.2022 Plasteurope.com 1107 [251109-0]
Published on 13.09.2022
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