Indorama Ventures triples PET recycling capacity in Brazil, supported by Blue Loan

Indorama Ventures, one of the world’s largest producers of recycled Polyethylene Terephthalate (rPET) resin, has completed the expansion of its recycling facility in Brazil, supported by the Blue Loan from the International Finance Corporation (IFC).

Indorama Ventures’ recycling facility in Juiz de Fora, Brazil, is increasing its production capacity from 9 thousand tons to 25 thousand tons per year of PET made from post-consumer recycled (PCR) material. The Thaland-listed company invested US$20 million to optimize the facility’s equipment, including washing machines that reduce water consumption by 70%.

Indorama Ventures’ recycling plant in Brazil.

The project is part of Indorama Ventures’ Vision 2030 ambition to continue building a sustainable global company, including spending US$1.5 billion to increase its recycling capacity to 50 billion PET bottles per year by 2025.

Building its industry leadership in sustainability, Indorama Ventures has secured a total US$2.4 billion in long-term sustainable financing from various financial institutions between 2018 to 2022.

Blue Loan funds certified and tracked projects that support sustainable use of ocean resources for economic growth and improve ocean ecosystem. In November 2020, the IFC approved a Blue Loan funding in $300 million to Indorama Ventures with the objective of increasing recycling capacity and diverting plastic waste from landfills and oceans in Thailand, Indonesia, Philippines, India and Brazil.

This is IFC's first Blue Loan focused exclusively on combating marine plastic pollution.