SUEZ and LyondellBasell have signed an agreement to work together, in order to provide the European plastics industry with secondary raw materials.
The project will also focus he production of high-quality circular polymers.
This is the first time that two companies in the plastics, chemicals and refining sector collaborate to contribute to the circular economy.
Under the terms of the agreement, LyondellBasell will be a 50/50 partner, with SUEZ placing material into Quality Circular Polymers (QCP), a plastic recycling company located in the Netherlands.
QCP converts waste into 25,000 tonnes of polypropylene and high-density polyethylene annually, with an aim of 35,000 tonnes by 2018, and 50,000 before 2020.
Under the contract, LyondellBasell will market QCP materials, with SUEZ being responsible for providing the plant with post-consumer plastic waste.
LyondellBasell senior vice president Richard Roudeix said: “As the circular economy continues to grow, we also believe that demand for recycled materials will grow as well. This acquisition positions LyondellBasell to actively participate in the circular economy, marrying LyondellBasell’s European market presence and technical capabilities with SUEZ’s ability to reclaim and manage recoverable waste products.”