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BOI Approves PureCycle's 8B Baht Recycled Plastic Pellet Plant for Thai & Asian Markets

BOI Approves PureCycle's 8B Baht Recycled Plastic Pellet Plant for Thai & Asian Markets

MGR Online•Economy•11d ago

Reader Briefing

PureCycle is establishing a major recycled polypropylene pellet plant in Rayong, Thailand, with significant investment, to supply both domestic and Asian markets, aligning with global green economy trends.

  • •PureCycle (Thailand) Co., Ltd. (PureCycle) received BOI approval for an investment exceeding 8.1 billion baht to build a high-quality recycled polypropylene pellet plant in Rayong, Thailand.
  • •The plant will utilize advanced Dissolution Recycling technology from the US, licensed exclusively from Procter & Gamble (P&G), to produce Ultra-Pure Recycled Polypropylene (UPRP) pellets named 'PureFive™'.
  • •The facility will use 100% local plastic waste as raw material and will supply 50% of its output to P&G and L'Oréal (Thailand), with the remainder exported to Asian markets like Malaysia and Indonesia.
  • •The investment supports Thailand's green industry development and low-carbon economy goals, leveraging the country's readiness in raw materials and industrial infrastructure for the recycling sector.

Overview

  • •The Board of Investment (BOI) approved PureCycle (Thailand) Co., Ltd.'s investment request.
  • •The investment value for the recycled plastic pellet production project exceeds 8.1 billion baht.
  • •The project is approved for investment promotion by the BOI.
  • •The projected production capacity is approximately 59,000 tons per year.
  • •The facility will use 100% domestic plastic waste as raw material, amounting to about 65,600 tons per year, valued at over 1.15 billion baht.
  • •PureCycle will utilize Dissolution Recycling technology from the US, exclusively licensed from Procter & Gamble (P&G).
  • •50% of the 'PureFive™' UPRP will be sold domestically to P&G and L'Oréal (Thailand).
  • •The remaining UPRP will be exported to Asian markets, including Malaysia and Indonesia.

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Key Quotes

Narue-kom Terstudsathid
"PureCycle's choice of Thailand as a primary production base to serve the Asian market proves Thailand's readiness in raw materials, infrastructure, and industrial supply chains for the new recycling business."
การที่ PureCycle เลือกไทยเป็นฐานการผลิตหลักเพื่อให้บริการตลาดเอเชีย คือ สิ่งที่พิสูจน์ว่าไทยมีความพร้อมทั้งด้านวัตถุดิบ โครงสร้างพื้นฐาน และห่วงโซ่อุตสาหกรรมที่รองรับธุรกิจรีไซเคิลยุคใหม่ได้
Narue-kom Terstudsathid
"This project is an important investment supporting green industry development goals, enabling Thailand to tangibly move towards a low-carbon economy and become a regional leader in a high-potential future industry."
โครงการนี้ถือเป็นการลงทุนสำคัญที่ช่วยสนับสนุนเป้าหมายการพัฒนาอุตสาหกรรมสีเขียว เพื่อให้ไทยก้าวสู่เศรษฐกิจคาร์บอนต่ำได้อย่างเป็นรูปธรรม และเป็นหนึ่งในอุตสาหกรรมแห่งอนาคตที่ประเทศไทยมีศักยภาพสูงที่จะเป็นผู้นำในระดับภูมิภาคได้

Key Entities

Organization

Board of Investment (BOI)(บีโอไอ)ℹ️
The Thai government agency responsible for promoting investment and approving projects.
PureCycle(เพียวไซเคิล)
The company investing in a recycled plastic pellet production plant in Thailand.
PureCycle (Thailand) Co., Ltd.(เพียวไซเคิล (ประเทศไทย) จำกัด)
The specific Thai subsidiary company of PureCycle undertaking the investment project.
Procter & Gamble (P&G)(P&G)ℹ️
The company that granted PureCycle the license for Dissolution Recycling technology and will be a domestic buyer of the recycled pellets.
L'Oréal (Thailand)(ลอรีอัล (ประเทศไทย))
A domestic buyer of the recycled plastic pellets produced by PureCycle.
European Union(สหภาพยุโรป)ℹ️
The political and economic union whose regulations, like PPWR, influence global demand for recycled plastics.
Coca-Colaℹ️
A leading global brand making commitments to ESG and Net Zero goals, driving demand for recycled plastics.
Unileverℹ️
A leading global brand making commitments to ESG and Net Zero goals, driving demand for recycled plastics.
Nestléℹ️
A leading global brand making commitments to ESG and Net Zero goals, driving demand for recycled plastics.

Person

Narue-kom Terstudsathid(นายนฤตม์ เทอดสถีรศักดิ์)
Secretary-General of the Board of Investment (BOI) who announced the project approval.

Place

IRPC Industrial Estate(เขตอุตสาหกรรมไออาร์พีซี)
The industrial zone in Rayong Province where PureCycle's new plant will be located.
Rayong Province(จังหวัดระยอง)ℹ️
The province in Thailand where the PureCycle recycled plastic pellet plant is being established.
United States(สหรัฐฯ)ℹ️
The country where the advanced Dissolution Recycling technology used by PureCycle originates.

Product

PureFive™(PureFive™)
The brand name for the high-quality recycled polypropylene pellets produced by PureCycle.

Law

Packaging and Packaging Waste Regulation (PPWR)
Legislation from the European Union that drives the demand for recycled materials in packaging.

Policy

Environmental, Social, and Governance (ESG)(ESG)ℹ️
A framework of standards that companies use to evaluate sustainability and ethical impact, influencing demand for recycled materials.
Net Zeroℹ️
A climate target for reducing greenhouse gas emissions to zero, contributing to increased demand for recycled and sustainable materials.