Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
The aim of the collaboration is to achieve a spinning capacity of up to 100,000 tonnes of textile recycled polyethylene terephthalate (PET) per year.
Indorama Ventures said the move will strengthen “resilience and transparency” within the international textile supply chain while improving both partners’ added value to the industry.
Completion of the joint venture is subject to receipt of necessary regulatory approvals.
Diego Boeri, Managing Director of Indorama Ventures Fibers, said: “Mixed textile waste and the next generation’s climate protection expectations cannot be solved by one company alone. It requires significant investments in infrastructure, technology and operations. Only together can all players in the value chain build circular business models.”
Indorama Ventures, a sustainable petrochemical producer, has manufacturing locations in Asia Pacific (APAC), Europe, the Middle East, Africa (EMEA) and the Americas.
Jiaren Chemical Recycling contributes its capabilities in the field of chemical recycling, including the procurement, sorting, decolorization, depolymerization and repolymerization of textile waste.
These processes enable the large-scale implementation of chemical textile recycling.
As part of the collaboration, Indorama Ventures will also provide a double-digit million investment in Jiaren Chemical Recycling’s recycling capacity.
“We consider Jiaren Chemical Recycling to be the most advanced technology provider in chemical textile recycling today. This strategic partnership is our next significant contribution to realizing our goal of a circular textile industry,” added Diego Boeri.
Jiaren Chemical Recycling, a subsidiary of Zhong Jian Xin Group, currently has an annual capacity of 30,000 tons (mt).
The company has expanded with the addition of a second production base, increasing its potential production to 150,000 tons of recycled polyester per year.
This expansion could facilitate the recycling of more than 240,000 tons of used textiles per year and reduce dependence on new petrochemical resources.
Fang Jiayu, chief commercial officer for Jiaren’s international market, said: “Today, Jiaren Chemical Recycling is already one of the largest textile chemical PET recyclers in the world, and we are continually expanding our capabilities. Partnering with a global powerhouse like Indorama Ventures is an opportunity for us to expand our reach, contribute to solving the global textile waste crisis, and secure various stable supply chains for brand owners and customers worldwide.”