# 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.

- Type: Partnership
- Announced: 2021-06-28
- Where: South Korea, South Korea
- Value: $56.5M
- Status: announced
- Capacity: 400,000 tonnes per year (combined for four facilities)
- Products: PET plastic, polyester fibre
- Sectors: [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md), [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md)

## Companies

- [Loop Industries](https://endata.com/companies/4019.md) (partner)
- [SK Global Chemical Co.](https://endata.com/companies/21935.md) (partner)

## Sources

- [petpla.net](https://petpla.net/2021/06/28/sk-global-chemical-to-acquire-10-per-cent-equity-stake-in-jv-partner-loop-industries/), 2021-06-28: "Loop and SKGC intend to form a joint venture with exclusivity to build sustainable PET plastic and polyester fibre manufacturing facilities throughout Asia."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.