SEOUL, Feb. 20 (Korea Bizwire) — SK Geocentric Co., a chemical materials unit of South Korean conglomerate SK Group, has announced plans to set up a plastic recycling plant in the Saint-Avold region in northeastern France.
The company completed the selection of a site in collaboration with French water management company Suez S.A. and Quebec-based plastic waste recycling firm Loop Industrie.
The three parties will invest about 450 million euros (US$480 million), with construction expected to get underway in early 2025.
The plant, which is scheduled to be completed in 2027, will have an annual recycled plastic (PET) supply capacity of about 70,000 tons.
In June 2022, the three companies formed a business agreement to establish a plastic recycling joint venture.
SK Geocentric will use its experience in petrochemical process operations, while Suez will leverage its waste resource management capability. Loop will be in charge of providing plastic recycling technology.
Saint-Avold is located in the center of a densely populated region. Based on its efficient industrial infrastructure such as roads and railroads, it is an optimal environment for the establishment of a recycling plant.
Ashley Song (email@example.com)