Indorama Ventures is investing $150 million in PET recycling plants in India
Indorama Ventures, a Bangkok-based company majority-owned by Indian investors, is set to invest $150 million in three PET recycling plants in India, with plans to begin commercial production in 2026. “We have obtained basic regulatory approvals, and land acquisition is going on nearer to our three existing PET-producing plants at Haldia, Nagpur, and Panipat,” Indorama Ventures Group CEO Aloke Lohia told PTI on the sidelines of the 21st Forbes Global CEO Conference on Singapore.
These recycling plants will supplement the firm’s current PET production of 800,000 tonnes per year, serving both Indian and export markets. PET (polyethylene terephthalate) is a durable material that can be recycled multiple times, aligning with global efforts to reduce new product manufacturing from fossil fuels. Lohia said Indorama is focused on scaled production in India, pointing to the insatiable local demand and export potential.
“There are so many applications in the automobile industry,” he said and singled out the potential of airbags in automobiles. “We have the technology and base material nylon and polyester that is used to make airbags, which are mandatory in automobiles in Western markets,” he remarked. “We will want to do more than just replace imports of components, such as airbags, that are used by automobile manufacturers in India.” Lohia expects demand for products made with advanced technologies to pick up in the Indian market as the country progresses economically and accelerates industrialization programs.
“We started in India about six years ago and are confident of prospects given the bright market outlook and the opportunities for growth,” he said. Indorama Ventures is optimistic about business prospects in India, particularly in the manufacturing sector, driven by strong local demand and government-led export promotion initiatives. The company is exploring opportunities in advanced technology-based auto components, including airbags, to cater to the Indian market’s evolving needs as the country advances economically and industrializes further.
These recycling plants will supplement the firm’s current PET production of 800,000 tonnes per year, serving both Indian and export markets. PET (polyethylene terephthalate) is a durable material that can be recycled multiple times, aligning with global efforts to reduce new product manufacturing from fossil fuels. Lohia said Indorama is focused on scaled production in India, pointing to the insatiable local demand and export potential.
“There are so many applications in the automobile industry,” he said and singled out the potential of airbags in automobiles. “We have the technology and base material nylon and polyester that is used to make airbags, which are mandatory in automobiles in Western markets,” he remarked. “We will want to do more than just replace imports of components, such as airbags, that are used by automobile manufacturers in India.” Lohia expects demand for products made with advanced technologies to pick up in the Indian market as the country progresses economically and accelerates industrialization programs.
“We started in India about six years ago and are confident of prospects given the bright market outlook and the opportunities for growth,” he said. Indorama Ventures is optimistic about business prospects in India, particularly in the manufacturing sector, driven by strong local demand and government-led export promotion initiatives. The company is exploring opportunities in advanced technology-based auto components, including airbags, to cater to the Indian market’s evolving needs as the country advances economically and industrializes further.
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