PT ALBA Tridi Plastics Recycling Indonesia has signed a $44.2m blue loan agreement with the Asian Development Bank (ADB) to build a polyethylene terephthalate (ANIMAL) recycling center.
Based in Indonesia, PT ALBA Tridi Plastics Recycling is a subsidiary of ALBA Group Asia.
As per the regards to this contract, the business will receive $22.1m each from the ADB and the Leading Asia’s Private Infrastructure Fund (LEAP) for establishing the center in Central Java, Indonesia.
Managed by ADB, the LEAP fund was developed in 2016. It is capitalised with a $1.5bn dedication by the Japan International Cooperation Agency.
The LEAP fund intends to support premium and sustainable economic sector facilities tasks to reduce carbon emissions, boost energy performance and offer access to education, health care and interaction services for different establishing member countries of ADB.
Blue loans are funding instruments to safeguard access to tidy water, safeguard undersea environments, and buy a sustainable water economy.
The ADB’s vice-president for Private Sector Operations and Public-Private Partnerships Ashok Lavasa said: “Plastic contamination triggers billions of dollars in irreparable damage to our marine community, and likewise has serious influence on economies and public health.
“This project showcases the potential for PET recycling in Indonesia, while the certified blue loan aims to attract more investors into waste management and recycling.”
The brand-new recycling plant will help in processing family pet drink bottles to change them into premium recycled family pet (rPET) flakes and food-grade rPET pellets.
These flakes and pellets can then be utilized for making brand-new rPET bottles.
The center is predicted to have a capability of recycling as much as 48,000 tonnes (t) of family pet bottles every year, avoiding the plastic waste from entering into the ocean, land fills or being stressed out outdoors.
With this recycling capability, the center is anticipated to produce around 36,000t of quality rPET.
ALBA Group Asia chair Axel Schweitzer said: “Our project will increase food-grade rPET production capacity in Indonesia and contribute to the creation of a circular economy for plastics.”
