Indorama Ventures to Produce Recycled PET Preforms in Thailand from 2028
Indorama Ventures, through its packaging business Indovida, is partnering with Suntory, Suntory PepsiCo Beverage Thailand and Iwatani Corporation to introduce Flake-to-Preform technology in Thailand.
7 Sep 2026 -Indorama Ventures will produce recycled PET preforms in Thailand through Indovida (Thailand) Limited, its joint venture with Iwatani Corporation, as part of a new partnership with Suntory Holdings and Suntory PepsiCo Beverage Thailand.
Suntory will introduce its’s patented Flake-to-Preform (FtoP®) Direct Recycling Technology to Thailand. Indovida is expected to have annual production capacity of approximately 400 million PET preforms, all of which will be procured by Suntory PepsiCo Beverage Thailand. Commercial production for products sold in Thailand is scheduled to begin in 2028.
The project represents the first commercial introduction of FtoP technology for PET bottles in Southeast Asia, according to Suntory. The technology enables PET preforms to be manufactured directly from recycled PET bottles by eliminating certain processes used in conventional PET recycling, including crystallisation and drying. Suntory estimates that the technology can reduce CO₂ emissions by approximately 70% compared with bottles made from virgin fossil-based materials, although this calculation is based on Japan.
Adapting FtoP for Thailand
Suntory says FtoP technology has traditionally required a stable supply of used PET bottles meeting specific quality standards, which has limited its application in markets where collection and recycling systems differ from those in Japan.
For the Thailand project, Suntory collaborated with equipment manufacturers including NGR (Next Generation Recyclingmaschinen) and Husky Technologies to optimise the technology for local PET bottle recycling conditions.
The work included adjusting the selection criteria for collected PET bottles and the decontamination process. According to Suntory, this allows collected PET bottles of varying quality to be processed while maintaining the quality and safety standards achieved in Japan, enabling recycled PET flakes to be converted directly into high-quality preforms.
“A truly circular economy can only be built through collaboration across the value chain,” said Aloke Lohia, Group CEO of Indorama Ventures. “With Suntory Group and Iwatani Corporation, we are bringing together world-class innovation and expertise to make commercial-scale circular PET production a reality in Thailand. This partnership helps us position Thailand as a regional leader in circular packaging solutions while creating long-term value for the environment, our customers and the economy.”
Kenji Motoori, Director, Senior Managing Officer, General Manager, Materials Business Group of Iwatani Corporation added, “We are delighted to begin this initiative with Suntory Group to advance the commercialization of FtoP® technology in Thailand. Through our joint venture with Indorama Ventures, we will support this project by ensuring a stable supply of high-quality recycled PET preforms. We will continue to work closely with our partners to help realize a circular economy.”
The PET flakes for the Thailand project will be sourced mainly from Indorama Ventures, while Indovida will manufacture the preforms. Suntory PepsiCo Beverage Thailand will be the project’s first commercial customer, with the preforms expected to enter products sold in Thailand from 2028.
The partners say they will also explore the potential for expanding the technology into other Southeast Asian markets.
Source: Suntory
