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Environment

Thailand's Indorama makes $1.5bn green bet on plastics recycling

Group plans to triple annual capacity to 750,000 tons in five years

One challenge to recycling in Southeast Asia is the sorting and collecting for plastic bottles. (Photo courtesy of Indorama Ventures)

BANGKOK -- Thailand's Indorama Ventures, the world's top producer of PET, will spend $1.5 billion to triple its plastics recycling operations, an ambitious goal backed by growing demand among green-minded beverage producers.

Indorama has been aggressively acquiring companies that recycle polyethylene terephthalate, a material used in plastic bottles, in recent years. It aims to expand its recycling capacity to 750,000 tons a year by 2025 from the current roughly 250,000 tons.

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