PETnews 6 NEWS PETplanet Insider Vol. 24 No. 06/23 www.petpla.net PET imports to impact EU recycled content targets A major increase in PET imports threatens the competitiveness of the EU’s industry, along with its objective to improve the waste management of plastics, according to the organisation Plastics Recyclers Europe. Between 2021 and 2022 imports of PET have doubled reaching 1.9Mt, with India, China and Türkiye among the biggest exporters in terms of volumes and value followed by Indonesia, Egypt and Vietnam. With the increase, imports represented nearly 30% of the total demand for PET in Europe in 2022, compared to only 23% in 2020. Given the strong divergences in energy, labour and environmental costs in the EU compared to the rest of the world, this important market shift puts the European industry under a lot of pressure, states the organisation Plastics Recyclers Europe. “Following these concerning market developments, the EU has initiated an anti-dumping proceeding against China for the imports of PET throughout 2022”, said Herbert Snell, PRE PETWorking Group Vice Chair and Managing Director at Multiport GmbH – MultiPet GmbH part of the Veolia Group. “Among the allegations, the issued notice reflects a likelihood that increased dumped imports would have a negative impact on the performance of the EU industry”, he added. The growing imports could be explained by the heightened demand for rPET in the EU, driven by the 2025 recycled content targets of 25% for beverage bottles, and the consequent rise in rPET prices on the continent. “It needs to be ensured that recycled PET imported to the EU at significantly lower prices is compliant with the stringent EU food contact regulation, and therefore does not put at disadvantage the efforts made for creating a robust rPET industry in Europe”, stated Casper van den Dungen, Vice-President of Plastics Recyclers Europe. He continued: “This will additionally require full verification of the traceability of imported polymers by end users to avoid using self-declarations as the means of reporting recycled materials participating in the EU targets”. Consequently, ensuring the enforcement of EU rules for goods and materials from outside the continent is key to protecting the ‘Made in the EU’ and maintaining a level playing field for all actors. Otherwise, the circularity of plastic products placed on the market will be undermined, together with substantial investments in the recycling industry and its capacities, says the organisation. www.plasticsrecyclers.eu Indorama Ventures and Carbios reaffirm partnership to build first-of-a-kind PET bio-recycling plant in France Indorama Ventures Public Company Limited (IVL) a global sustainable chemical producer, and Carbios, a biotech company developing and industrialising biological solutions to reinvent the life cycle of plastic and textiles, announced the signing of a non-binding Memorandum of Understanding (MOU) to form a Joint Venture (JV) for the construction of the world’s first PET bio-recycling plant in France. Based on and subject to the comprehensive terms set out in the MOU, Indorama Ventures plans to mobilise about €110 million for the JV in equity and non-convertible loan financing, pending final engineering documentation and final economic feasibility studies. Both parties have acknowledged their mutual support for the implementation of the project and their intent to finalise contract documentation before end 2023. Subject to the successful performance of this first plant in France, Indorama Ventures confirms its intention to potentially expand the technology to other PET sites for future developments. Under the agreement signed, Carbios, which filed for plant permission in December 2022, is to acquire 13ha land from Indorama Ventures’ existing PET plant at Longlaville and expects to be granted permits by Q3 2023, allowing start of construction by end of 2023 and targeted commissioning in 2025. The land surface offers the possibility to double capacity. Pursuant to this MOU, Indorama Ventures shall ensure 100% of output repolymerisation and both partners shall collaborate to secure feedstock supply. The total capital investment for the new plant is re-estimated to be around € 230 million, taking into account recent impact from inflation. Project costs are to be financed by the sums mobilised by Indorama Ventures, the French State and Grand-Est Region subsidies available for the project, and by equity capitalisation of the JV by Carbios. Part of Carbios’ equity injection into the JV will be financed by a portion of Carbios’ current cash position (i.e. €86 million as of 30 April 2023). Carbios is actively examining the best options to finance its remaining equity injection into the JV and will choose the most appropriate solution and timeline based on market conditions. www.indoramaventures.com www.carbios.com Plastics Recycling Show Middle East & Africa opens in Dubai in September 2023 The launch edition of the Plastics Recycling Show Middle East & Africa (PRS ME&A) will take place at the Dubai World Trade Centre in Dubai, United Arab Emirates on September 5-7, 2023. The three-day exhibition and conference is the first and only event in the region specifically dedicated to plastics recycling and will run annually, starting in September. Visitor registration for the event is now open. The Plastics Recycling Show Middle East & Africa brings together key players from the plastics and recycling sectors to showcase innovative technology, share best practice, network and do business. A broad cross-section of the industry is represented at the event including plastics recycling machinery and equipment suppliers, plastic material suppliers and compounders, pre-processors, plastics recyclers, recycling and waste management specialists, regional government and industry associations. The latest trends in the plastics recycling sector will be explored in depth in the conference. www.prseventmea.com
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