Teijin to recycle polyester in China
Teijin Limited is to establish Zhejiang
Jiaren New Materials, a joint venture with Jinggong Holding Group, in
September.
Through the joint venture, Teijin will
chemically recycle polyester, as well as manufacturing and selling the
resulting fibres, in a bid to establish a closed-loop recycling system in China.
The joint venture, to which Teijin will
contribute 49% and Shaoxing-based Jinggong Holding will contribute 51%, will
invest around 6 billion JPY in the construction of facilities for DMT (dimethyl
terephthalate) production, polymerisation and fiber spinning.
Construction will begin in November, with
operations scheduled to begin by the end of March 2014. The joint venture is
targeting annual sales of 10 billion JPY during the first year of business.
The facility will have a DMT production
capacity of 20,000 tonnes per year in the initial phase. As demand grows,
capacity will be expanded an additional 50,000 tonnes per year in the second
phase, for a total annual DMT production capacity of 70,000 tonnes.
