Korea Business News Agency - NSP NEWS AGENCY.

(Seoul=NSP News Agency) soon ki Lee Journalist = On the 12th, SK global chemical signed a memorandum of understanding to establish a joint venture with Purecycle Technologies, a US waste plastic recycling company.

PureCycle Technologies, a company listed on the NASDAQ in March of this year, specializes in recycling poly propylene(PP), a type of plastic widely used in packaging containers and vehicle interior materials.

SK global chemical aims to establish a joint venture with this company, start construction of recycling plants in Korea at the end of 2022, and start commercial operation from 2025.

Through this, it plans to recycle about 50,000 tons of PP plastic waste per year and produce PP that is as valuable as new products that were previously produced in chemical processes.

In particular, SK global chemical has secured technological competitiveness in the production of high-value-added materials such as high-stiffness PP, which is often used as a lightweight interior material for automobiles, so it is expected to be able to make automotive parts with eco-friendly PP obtained from recycling in the future.

“This cooperation is aimed at transforming the company’s business structure from carbon to green to be reborn as an ESG-leading company,” SK global chemical said, “We will open a new horizon as an eco-friendly chemical company by completing a virtuous cycle of waste plastic resources.”

NSP News Agency soon ki Lee Journalist s8789@nspna.com
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