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ANNOUNCEMENT 24 Nov 2020
In November 2020, the IFC provided USD 150 million loans to Indorama Ventures Public Company Limited to expand its recycling polyethene terephthalate (PET) capacity.
NUMBER OF INTERVENTIONS
2
SOURCE
The IFC Project No.43300: https://disclosures.ifc.org/#/projectDetail/ESRS/43300
On 24 November 2020, the International Finance Corporation signed an agreement with Indorama Ventures Public Company Limited (IVL) to provide the company with a loan of USD 150 million. Some amount of the loan would be used to finance the operation of recycling polyethene terephthalate (PET) in Thailand.
IVL is a Thailand-listed, a global business committed to developing technologies and processes that use post-consumer PET and polyester waste materials as feedstock for the future. As the largest producer of 100% recyclable PET in the world, IVL supports all aspects of the circular economy to reduce the amount of waste entering the environment. IVL operates 125 manufacturing facilities in 33 countries, across 5 continents.
Financial assistance in foreign market
On 24 November 2020, the International Finance Corporation provided a loan of USD 150 million to Indorama Ventures Public Company Limited (IVL). IVL would use some amount of the loan to finance its expansion of recycling polyethene terephthalate (PET) capacity in the foreign markets namely the Philippines, India, Indonesia, and Brazil.
IVL is a Thailand-listed, a global business committed to developing technologies and processes that use post-consumer PET and polyester waste materials as feedstock for the future. As the largest producer of 100% recyclable PET in the world, IVL supports all aspects of the circular economy to reduce the amount of waste entering the environment. IVL operates 125 manufacturing facilities in 33 countries, across 5 continents.