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SEONGNAM - South Korean company SK Chemicals has signed a US$98.4 million deal with China-based Shuye Environmental Technology to purchase what it describes as the world's first mass production system for chemically recycled polyester.

It says it will enable it to chemically recycle 50,000 metric tonnes of PET (polyethylene terephthalate) and 70,000 metric tonnes annually of BHET (bis2-hydroxyethyl terephthalate), a stepping stone in the production of PET.

SK Chemicals' acquisition includes a depolymerisation plant that chemically decomposes waste plastic to produce recycled BHET and a production facility that uses the rBHET to make rPET.

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