UK firm Plastic Energy has signed a heads of agreement with South Korea’s SK Geo Centric (SKGC) for the building of two plastic chemical recycling plants in the country.
The first plant will have a capacity of 66,000 tonnes of plastic waste and will be located in SKGC’s recycling cluster in Ulsan. It should be operational by the end of 2025.
A second plant will be considered in early 2023 that would take total capacity up to 100,000 tonnes and would be located near to Seoul.
Plastic Energy already operates facilities in Spain and has others in construction in the Netherlands, France and has a Memorandum of Understanding for a project in Malaysia. It is also involved in other projects in Europe and the US.
Its founder and chief executive Carlos Monreal said: “Korea is an important market for advanced recycling of end-of-life plastics.
“SKGC has a truly unique vision to deploy different technologies to recycle many types of plastic, and Plastic Energy is excited to play a role in realising this vision.”