Joint venture aims to bring down cost of T2T materials
South Korea’s SK Chemicals has set up a joint venture with China-based PET recycler Kelinle to build a Feedstock Innovation Centre (FIC), aiming to help move away from plastic bottles for recycled polyester; instead using textiles and hard-to-recycle waste as feedstock.
The two companies plan to establish a 13,200 m facility in owned in Weinan, China, to convert waste.
Kelinle will leverage its local network to procure feedstock, and PET pellets will be produced after pretreatment using SK Chemicals' technology.
Ahn Jae-hyun, CEO of SK Chemicals, said: “The cost advantage gained by turning hard-to-recycle wastes such as discarded blankets into resources will help break down the price barrier of recycled plastics, which has historically been higher than petroleum-based materials."
Image: SK Chemicals President Ahn Jae-hyun (fifth from left), SK Shantou Vice President Jung Jae-jun (sixth from left), Kelinle President Zhang Xizheng (far left), and other representatives pose for a commemorative photo after the signing ceremony.
