Suez announced has plans to produce “high-quality circular polymers” together with chemicals company and plastics manufacturer LyondellBasell. Under a new agreement, LyondellBasell will be a 50/50 partner with Suez in Quality Circular Polymers (QCP), which is a “high standard plastic recovering company” located in Sittard-Geleen near Maastricht in the Netherlands.
Until now, Suez was a “strategic investor” along with the venture capital providers Chemelot Ventures and the Limburg regional development agency LIOF. Chemelot and LIOF released a joint statement explaining that they are selling their equity stakes to LyondellBasell. The value of the transaction, which is still subject to regulatory approval, was not disclosed.
At QCP, Suez is to supply the plant with post-consumer plastic waste while LyondellBasell will market the output material. The plant is to produce 35,000 tonnes of recycled plastic in 2018, increasing to 50,000 tonnes per year before 2020, according to the joint venture partners. At present, its output is 25,000 tonnes of “near virgin quality” PP and HDPE per year. It produces two grades of HDPE and eight grades of PP copolymer, according to LyondellBasell and Suez.
This article appears as part of our broader coverage of Suez' plans to expand plastic recycling operations in the latest edition of EUWID Recycling & Waste Management due out on 29 November.
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