Versalis, which is owned by Spanish oil company Eni, has signed an agreement with Forever Plast to build a plastic recycling plant at Porto Marghera in Italy.
Italian company Forever Plast specialises in recycling plastic coming from separated waste operations, in particular HDPE, PP and PS.
This plant in Italy will use chemical recycling to recycled 50,000 tonnes per year, and is set to be operational in 2024. It will typically recycled PS and HDPE.
It will be based at an existing petrochemical site at Porto Marghera.
The development of a mechanical recycling hub at Porto Marghera was begun by Versalis in 2021 with the acquisition of the technology and facilities of Ecoplastic, which uses a pre-treated EPS as a feedstock.
Versalis chief executive Adriano Alfani said: “With this agreement we aim to strengthen the transformation of Porto Marghera; a strategic site to achieve our sustainability goals.
“The strength and innovativeness of this technology is in the potential it offers to recycle plastics for the food packaging market, which poses the greatest challenge in reaching circularity, and consolidates our European leadership in polymer recycling.”