The plant will recycle plastic waste using mechanical recycling technology and produce new polymers for LyondellBasell’s CirculenRecover's product portfolio.

“This joint venture is linked to LYB’s commitment to support a circular economy for plastics and is part of our strategy to expand our circular polymer offering in China,” said Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions. Van der Laan added: “This partnership with Genox enables us to create local recycling solutions for customers and brand owners in China in support of their ambitious targets.”

Jingfa Jiang, chairman of Genox Recycling, said: “Genox is constantly exploring the industry value chain, and we are delighted to partner with LyondellBasell so we can leverage our advantages to lead the development of plastics recycling. Together we can accelerate a circular and low-carbon future.”