Indorama Ventures and Jiaren Chemical Recycling are partnering to achieve 100,000 tonnes of textile-recycled PET spinning capacity annually, improving supply chain resilience and transparency. Regulatory approval is needed for the joint venture. Jiaren’s chemical recycling capabilities will be scaled up with a double-digit million-dollar equity investment from Indorama Ventures.

Indorama Ventures, a sustainable petrochemicals producer with a global presence, sees the partnership as a step towards a circular textile industry. Jiaren Chemical Recycling, a subsidiary of Zhong Jian Xin Group, operates with a current capacity of 30,000 mt, which is set to increase to 150,000 mt annually with a second production base. This expansion could lead to the recycling of 240,000mt of used textiles yearly, reducing reliance on virgin petrochemical resources.

Jiaren Chemical Recycling, aiming to be a global player in PET textile chemical recycling, emphasizes the importance of partnerships to address the textile waste crisis. The collaboration with Indorama Ventures will help expand reach and secure stable supply chains for brand owners and customers worldwide.

Read more at Yahoo Finance: Indorama Ventures, Jiaren partner to target 100,000t PET recycling