On Tuesday, SK Geo Centric Co., the chemical unit of South Korea’s leading refiner SK Innovation Co., announced that it had signed a memorandum of understanding with British chemical recycling firm Plastic Energy for the construction of a waste recycling plant in Korea.
The two companies signed the agreement in Germany on Oct. 31, and plan to establish a joint venture to build the No. 2 pyrolysis plant in Dangjin, located 78 kilometers southwest of Seoul.
As of yet, the timeline for the commencement of construction and operations of the No. 2 plant has not been determined.
The No. 1 pyrolysis plant, which will be located in Ulsan, 300 km southeast of Seoul, is scheduled to begin operations in 2025. This facility will be used to transform plastic waste into valuable products such as fuel oil.
SK Geo Centric Co's company logo (Yonhap)
kyongae.choi@yna.co.kr
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