• Thursday, August 05, 2021
India Corona Update 
Total Fatalities 426,290
Total Cases 31,812,114
Today's Fatalities 533
Today's Cases 42,982
Pakistan Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
Sri Lanka Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
Bangladesh Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
UK Corona Update 
Total Fatalities 418,480
Total Cases 31,216,337
Today's Fatalities 3,998
Today's Cases 42,015
India corona update 
Total Fatalities 426,290
Total Cases 31,812,114
Today's Fatalities 533
Today's Cases 42,982

Business

Indorama Ventures acquires CarbonLite’s PET recycling facility in Texas

FILE PHOTO: At the Indorama Ventures factory, flattened plastic bottles that have been steam cleaned are sorted by factory employees as they move along on a conveyer belt for processing (Photo: Paula Bronstein/Getty Images).

By: Shilpa Sharma

INDORAMA VENTURES LIMITED (IVL) has completed purchase of CarbonLite’s PET recycling facility in Dallas, Texas, in line with the company’s efforts to increase its operational capacity in the US.

The Dallas unit, which will now be named as Indorama Ventures Sustainable Recycling (IVSR), will complement the company’s existing PET and fibre businesses in the US.

The newly acquired site is one of the largest producers of food-grade recycled pellets (rPET) in the US and has a combined capacity of 92,000 tons per year.

It will recycle more than 3 billion PET plastic beverage bottles per year and will support more than 130 jobs directly, the company said.

The latest acquisition will augment Indorama Ventures’ US recycling capacity to 10 billion beverage bottles per year, thereby supporting its global target of recycling 50 billion bottles annually by 2025.

Indorama Ventures is listed in Thailand and Prakash Lohia, founder and chairman of the Indorama Corporation owns about one-third of the company.

The company entered the US PET market in 2003 and purchased Custom Polymers PET recycling facility in Alabama in 2019; as well as another site in California the same year.

“Dallas now joins Indorama Ventures recycling sites around the globe, dedicated to giving new life to post-consumer beverage bottles,” said D K Agarwal, CEO of combined PET, IOD and fibers business at Indorama Ventures.

“This recycling facility supports customer needs and consumer wants. We are delivering the infrastructure America needs to close the loop, enhancing our approach to sustainability with the Deja brand platform to build a circular economy for PET plastic beverage bottles,” said Yashovardhan Lohia, chief sustainability officer at Indorama Ventures.

 

Eastern Eye

Related Stories

Eastern Eye

Videos

Elnaaz Norouzi on Chutzpah, playing the role of a camgirl,…
Rocky Jaiswal on Lines, casting Hina Khan, upcoming production ventures,…
Sai Tamhankar on Mimi, her experience of working with Kriti…