Together with French and Canadian Partners
SK Geocentric, an SK Innovation subsidiary specializing in eco-friendly chemicals, announced on June 16 that it signed a business agreement with SUEZ, a French environmental company, and Loop Industries, a Canadian company with plastic recycling technology. Under the agreement, they will establish a plastic waste recycling joint venture in France.
An MOU signing ceremony was held on June 7 (local time) at the SUEZ headquarters in Paris with the attendance of SK Geocentric CEO Na Kyung-soo, SUEZ vice president Max Pellegrini, and Loop CEO Daniel Solomita.
Under the agreement, the three companies will conduct a detailed review of their plan to establish a chemical recycling plant in Europe that produces 70,000 tons of recycled plastic per year. They will also consider the establishment of a recycling joint venture at an equal equity ratio.
If the project is implemented as planned, SK Geocentric will become the first Korean company to set up a plastic recycling joint venture in Europe. When the plant is completed, SK Geocentric will take the role of supervising its operation.