SK geo centric and Plastic Energy plan new plant in South Chungcheong

A computer-generated image of a plastic recycling plant of SK geo centric, Loop Industries and SUEZ, which will be completed by 2027 in France [SK INNOVATION]

SK geo centric, a chemical subsidiary of SK Innovation, will build a waste plastic pyrolysis plant in Dangjin, South Chungcheong, with Plastic Energy, a British plastic pyrolysis company.

The two companies, as well as the regional governments of Chungcheong and Dangjin, signed a memorandum of understanding (MOU) in Frankfurt, Germany, on Tuesday for the construction of the plant. SK geo centric and Plastic Energy will set up a joint venture for the project.

The plant, which is expected to have an annual processing capacity of 66,000 tons, will be SK geo centric’s second plastic pyrolysis facility following a previously-announced project in Ulsan. The Ulsan facility, which is housed inside the company’s Advanced Recycling Cluster, will begin operation in 2025.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]