IVL Thailand

active

Indorama Ventures Public Company Limited (“IVL” or the “Group” or the “company”) is one of the world’s leading petrochemicals producers, with a global manufacturing footprint across Africa, Asia Pacific, Europe and Americas. The company’s portfolio comprises Integrated PET, Olefins, Fibers, Packaging and Specialty Chemicals. Indorama Ventures products serve major FMCG and automotive sectors, i.e. beverages, hygiene, personal care, tire and safety segments. IVL is a market leader in the polyethylene terephthalate (‘PET') polymers and hygiene fibers. IVL has a global footprint with 110 manufacturing facilities in 33 countries (https://www.indoramaventures.com/en).IVL entered the recycling business in 2011, wherein it transforms post-consumer PET bottles into flakes, recycled PET (rPET) resins, recycled polyester yarns and recycled polyester fibers. In the PET recycling process, the post-consumer PET bottles are first compressed in bales and brought to the factory. The bottles are then mechanically sorted, labels and enclosures are separated from the bottles and are then sterilized using thermal processing. The bottles are washed and cleaned to remove any impurities such as iron, sand, or other types of plastics and are then crushed into small flakes, which can be reused. The bottle flakes are examined before they are melted to become recycled resins (chips) that can be further processed to make polyester fibers. These resins and fibers can be further converted to make a diverse range of products such as beverage bottles, sportswear or accessories (shoes, bags) made from rPET fibers, or rPET filament used in for home furnishing (e.g. carpet, pillow stuffing) or personal hygiene applications (e.g. diapers). IVL made a global commitment in 2019 that by 2025 it will recycle 750,000 tons (about 50 billion bottles) of post-consumer PET materials every year. IVL plans to invest US$1.5 billion to more than double its recycling capacity and reduce carbon footprint in its operations; in doing so, will also support the sustainability commitments of its buyers in the fast moving consumer goods segment, personal care segment and home care segment. IFC's proposed financing package of up to US$150 million A loan to Indorama Ventures Global Services Limited (a subsidiary holding company under IVL), and US$150 million parallel loans, will be used to finance the ongoing investment program in Thailand, Philippines, India, Indonesia, and Brazil for (the “project”):-                    expansion of rPET capacity and -                    implementation of energy efficiency, renewable energy, water conservation and ISO 50001 certified projects eligible for certification under Green Loan Principles issued by Loan Market Association.