Indorama Ventures Public Co Ltd, located in Bangkok and majority-owned by Indians, is investing USD 150 million in three PET recycling plants in India, with plans to begin commercial production in 2026.

We have received basic regulatory permits, and land acquisition is underway near our three current PET-producing factories in Haldia, Nagpur, and Panipat, said Indorama Ventures Group CEO Aloke Lohia on the sidelines of the 21st Forbes Global CEO Conference.

Recycled PET from the three plants will supplement Indorama Ventures' current 800,000 tonne/year PET production for the Indian and export markets.

PET is durable and can be recycled multiple times.

He explained the need to increase the use of recycled PET, supporting global initiatives to reduce the use of making new products out of fossil fuels.