The plastic recycling facility will recycle post-consumer plastic trash mechanically to create new polymers sold under the LyondellBasell Circulen Recover product line

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LyondellBasell and Genox Recycling to establish a JV for a new plastics recycling plant in Zhaoqing, Guangdong Province of China. (Credit: LyondellBasell Industries Holdings B.V.)

LyondellBasell has signed a memorandum of understanding (MoU) with Genox Recycling to establish a joint venture (JV) to construct a new plastics recycling plant in Zhaoqing, Guangdong Province of China.

Expected to be operational in 2023, the plastic recycling facility will recycle post-consumer plastic trash mechanically to create new polymers sold under the LyondellBasell Circulen Recover product line.

LyondellBasell said that the JV aims to lessen the quantity of plastic trash dumped in landfills, incinerators, or the environment.

The JV also intends to aid in the rising demand for circular and sustainable solutions and to encourage the high-quality development of local recycling.

LyondellBasell China Polyolefins vice president Limin Fu said: “Advancing a circular economy that enables plastic waste to be transformed into more sustainable solutions for our customers is important to us, and we are pleased to collaborate with Genox Recycling to make this happen.

“This new joint venture will help develop the local plastics recycling infrastructure in China and is an important milestone for LyondellBasell to contribute to its goal to produce and market two million metric tons of recycled and renewable-based polymers annually by 2030.”

This partnership is one of the recent initiatives LyondellBasell is taking to expand its recycling capacity globally.

The company has plans to work with partners along the value chain to enhance its local capabilities to supply circular solutions in China and contribute to the development of circular economies.

Genox Recycling chairman Jingfa Jiang said: “Genox Recycling believes that innovation and collaboration are necessary ways to achieve carbon neutrality.

“We are delighted to join hands with LyondellBasell to lead the development of plastics recycling with a complementary mix of strengths from both parties and accelerate a circular and low-carbon future together.”

Recently, LyondellBasell and Henkel jointly developed new reopen/ reclose properties for increased consumer convenience in re-closable packaging.