Page 128 - CW E-Magazine (10-9-2024)

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CIRCULAR ECONOMY

Indorama, Dhunseri and Varun Beverages form jv

to set up multiple PET recycling facilities in India

Thailand-based chemicals group, Petchem Special Projects, and Chair-
Indorama Ventures Public Company man of the ESG Council of Indorama
Ltd., through its direct subsidiary – Ventures, stated, “We at IVL Dhunseri
IVL Dhunseri Petrochem Industries are delighted to collaborate with
Ltd. - and Dhunseri Ventures Ltd. have Varun Beverages, in the establishment of
formed a joint venture with Varun Beve- these mechanical recycling facilities in
rages Ltd., PepsiCo’s second-largest India. As the world’s largest recycler of
bottling company globally outside the PET, this partnership underscores our
US, to establish several greenfi eld PET lating demand for rPET content in steadfast commitment to sustainability
recycling facilities in India. India, driven by both regulatory mandates and our support for the region’s escala-
and a collective effort towards a circu- ting demand for rPET content”.
This strategic alliance marks a sub- lar economy for PET. This demand is
stantial move towards meeting the projected to increase from approxi- Mr. Varun Jaipuria, Executive Vice-
increasing demand for recycled content mately 400 kilotons in 2025-2026 to Chairman of Varun Beverages, added,
throughout India, representing the com- over 1-million tons by 2031. Mandates “As part of our long-term vision and in
panies’ collective dedication to sustain- such as the Indian Government’s com- line with PepsiCo’s global PEP+ objec-
ability. pulsory requirement of 30% recycled tives, we remain committed to sustain-
plastic content in plastic packaging by ability and environmental stewardship.
The joint venture has already begun 2025-2026, escalating to 60% by 2028- We are making investments that
the construction of two PET recycling 2029, underscores the urgency and emphasise using green energy as well as
facilities, planned for completion within importance of this transformation. More- reuse of PET which will be instrumental
2025, with potential for more. One over, this move aims to effectively cater in mitigating environmental impact.
facility is in Kathua, Jammu, while the to the needs of India’s beverage brand These endeavors are aligned with our
other is in Khurdha, Odisha. The aim owners, many of whom have estab- pledge to the environment and refl ect
is to reach 100 kiloton annual capacity lished ambitious sustainability goals in our ambition to nurture a greener
of recycled PET (rPET) across all the line with regulatory directions. future. Our collaboration with Indorama
facilities when combined. Ventures represents a strategic foray
Mr. Yash Lohia, representative of for Varun Beverages into the recycling
This initiative aligns with the esca- IVL Dhunseri, and Executive President market”.

INORGANIC ROUTE
ONGC eyes 1-GW renewable energy projects

State-run ONGC aims to acquire He did not specify whether these RE from which the acquired assets will be
more than 1 GW of renewable energy assets to be acquired will be solar or parked.
(RE) projects as the oil & gas explora- wind power.
tion and production (E&P) major aims OGL will focus on Maharatna’s
to enter the clean energy services He added that the Maharatna green energy foray – renewable energy
market. company has already fl oated a tender (solar, wind, hybrid, hydel, tidal, and
for 1-GW of REpower, which will geothermal, etc.), the biofuels/biogas
“If 1 gigawatt (GW) comes to us be for the E&P company’s internal business, green hydrogen and its
this year, it will be the inorganic way. consumption. derivatives like green ammonia, green
This year, our intention is to have more methanol, storage, carbon capture
than 1 GW the inorganic way,” ONGC The PSU has already created a utilisation and storage, and the LNG
Chairman & CEO Mr. A. K. Singh said. subsidiary, ONGC Green Ltd. (OGL), business.

128 Chemical Weekly September 10, 2024

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