SK global chemical and Loop Industries form JV for PET recycling facilities in Asia

SK global chemical and Loop Industries signed an MOU to form a joint venture (SKGC 51%, Loop 49%) to build PET plastic and polyester fibre manufacturing facilities in Asia, with the first facility in South Korea planned for 2022 and four facilities by 2030. Separately, SKGC will invest $56.5 million for a 10% equity stake in Loop.

“Loop and SKGC intend to form a joint venture with exclusivity to build sustainable PET plastic and polyester fibre manufacturing facilities throughout Asia.”petpla.net

• 1 source
• petpla.netSK global chemical to acquire 10 per cent equity stake in JV partner Loop Industries – PETplanetJun 28, 2021

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