Chemical recycling: EUR 92 mn deal with China's Shuye / Agreement includes depolymerisation plant for rBHET and rPETSouth Korean resin maker SK Chemicals
(SKC, Seoul; www.skchemicals.com
) signed a USD 98.4 mn (EUR 92 mn) deal with Chinaâ??s Shuye Environmental Technology
(Shantou, Guangdong; www.shuye.com.cn
) to acquire the latterâ??s assets in the business division specialising in chemically recycled bis-hydroxyethyl terephthalate (BHET) and chemically recycled PET.
The assets include a depolymerisation plant in Shantou that chemically decomposes waste plastics to produce rBHET and a chemically recycled PET production facility, which uses the rBHET produced here to make PET again. SKC claims that the plant uses a depolymerisation technology that is a few years ahead of other domestic companies.Related: PET film ops of SK Chemicals firm to be sold to South Korean investment company
Water bottles from chemically recycled BHET, PET (Photo: SK Chemicals)
Last year, SKC signed an memorandum of understanding with Shuye to build a depolymerisation plant in the Shantou Comprehensive Free Trade Zone with a production capacity of 100,000 t/y of chemically recycled BHET, with commercial production planned for 2024. SKC owns 51% interest
in this joint venture.
Along with the expansion of its co-polyester business, SKC plans to make the chemically recycled BHET and chemically recycled PET businesses with high growth potential as new growth drivers. The company also plans to sell the rBHET as a standalone product to polyester manufacturers worldwide who want to make recycled products.
In addition to recycled polyester products, Shuye manufactures biodegradable shopping and logistics bags along with polyester-based functional films, among others.16.03.2023 Plasteurope.com [252429-0]