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Neste and Ravago aim to establish a joint venture to build an industrial chemical recycling facility in North Sea Port in Vlissingen, Netherlands, with an annual processing capacity of about 55,000 tons of mixed plastic waste.
Neste acquired a minority stake in Alterra, a chemical recycling technology company. The companies will partner to commercialize Alterra's waste plastic liquefaction technology in Europe, with a target to start construction of a liquefaction site in Europe during 2021.