TEXTILES.ORG
Indorama Ventures’ fibers business and Jiaren Chemical Recycling have formed a joint venture to accelerate circularity in the global textile industry.
Both partners plan to leverage the joint venture to unlock up to 100,000 tonnes (110,231 U.S. tons) of textile-recycled PET spinning capacity annually.
“Mismanaged textile waste as well as the next generation’s expectations regarding climate protection cannot be solved by one company alone. It requires significant investment in infrastructure, technology and operations.
“Only together, all value chain players build circular business models. Regulators need to help nurture the appetite for required investments, in particular in Europe, and consumers need to understand a lot better what happens in today’s global material flows to make educated buying choices. At Indorama Ventures, we strongly believe in the power of tightly woven relationships with our customers and all other parties. We aim to lead the shift towards a circular textile economy,” says Diego Boeri, president of Indorama Ventures’ fibers business.
“Already today, Jiaren Chemical Recycling is among the biggest PET textile chemical recyclers globally, and we are continuously expanding our capacity. Partnering with a global powerhouse like Indorama Ventures is an opportunity for us to expand reach, helping to solve the world’s textile waste crisis, and secure diverse stable supply chains for brand owners and customers worldwide,” says Fang Jiayu, chief commercial officer (international market) of Jiaren.