SK Geo Centric to Build Recycling Plant in France
SK Geo Centric, a subsidiary of SK Innovation's chemical business, announced its plans to construct a plastic recycling facility in collaboration with French partners in Saint-Avold, located in northeastern France.
SK Geo Centric, a division of SK Innovation's chemical business, has chosen Saint-Avold, in the northeast of France, as the site for a new plastic recycling plant that will be built with French partners.
The plant site was selected in collaboration with the French water and waste management company Suez and the Canadian plastic recycling technology company Loop Industries.
Na Kyung-soo, CEO of SK geo centric, expressed excitement about this significant milestone for the company. He noted that they will use their extensive experience in operating petrochemical processes to lead the construction of a sustainable circular economy in Europe.
The three companies plan to spend about 450 million euros ($478 million) on building the plant at the beginning of 2025. When it is finished in 2027, it will be able to supply about 70,000 tons of recycled plastic each year.
Saint-Avold was selected as the ideal location for the plant due to its efficient industrial infrastructure and a central location within a densely populated area of northeastern France. The French Ministries of Industry and Ecology, the Grand Est region, and the Saint-Avold Synergy region community are supporting this international project.
Loop's cutting-edge depolymerisation technology will be used to convert low-value plastic waste into the purest, virgin-quality plastic. Suez, having ample knowledge of the European plastics market and partnerships with industrial players, will collect, sort, and prepare the feedstocks from waste plastic.
SK geo centric's contribution to solving the global plastic problem and the growing demand for recycled plastic due to European environmental regulations will be addressed through the establishment of the plant.
Additionally, the facility will offer a solution to the global plastic waste challenge by leveraging low-value waste plastic destined for landfill or incineration. The new plant is expected to create job opportunities for the region.
Source: The Korea Herald