CARBIOS and Indorama Ventures PCL plan jv to build PET recycling facility in France ? French biotech company, CARBIOS, and Thailand-based chemicals firm, Indorama Ventures PCL (IVL), have signed a non-binding Memorandum of Understanding (MOU) to form a joint venture for the construction of the “world’s first PET biorecycling plant” in France. ? As per the deal, Indorama Ventures plans to mobilise about Euro 110-mn for the jv in equity and non-convertible loan financing, pending final engineering documentation and final economic feasibility studies. The partners aim to finalise contract documentation before end 2023. ? Subject to the successful performance of this first plant in France, Indorama Ventures will also explore expansion of the technology to other PET sites for future developments. ? Under the agreement, Carbios, which filed for plant permitting in December 2022, should acquire 13 hectares land from Indorama Ventures’ existing PET plant at Longlaville and expects to be granted permits by Q3 2023, allowing start of construction by end of 2023 and targeted commissioning in 2025. The land surface offers the possibility to double capacity. ? Pursuant to this MoU, Indorama Ventures will ensure 100% of output repolymerisation and both partners will collaborate to secure feedstock supply. ? The total capital investment for the new plant is re-estimated to be around €230-mn, taking into account recent impact from inflation. ? Follow Chemical Weekly page for regular industry updates ? Subscribe to Chemical Weekly magazine: https://lnkd.in/g3S4ZSu9 ? #chemicals #chemicalindustry #chemicalweekly #specialitychemicals #chemical #repolymerisation #feedstock #supply #PET #biorecycling #recycling #engineering #MoU #memorandumofunderstanding #technology #JV #jointventure www.chemicalweekly.com Chemical Weekly
