PT ALBA Tridi Plastics Recycling Indonesia Takes Bold Step with ADB Loan for PET Recycling

In response to the global crisis of plastic waste polluting the oceans, the Asian Development Bank (ADB), along with the Leading Asia's Private Infrastructure Fund (LEAP), has initiated a significant project to establish a polyethylene terephthalate (PET) recycling facility in Central Java, Indonesia. This initiative is part of a $44.2 million blue loan provided to PT ALBA Tridi Plastics Recycling Indonesia, an entity under ALBA Group Asia. The innovative facility is tasked with transforming waste PET bottles into high-quality, food-grade recycled PET flakes and pellets, thereby supporting the circular economy and contributing to Indonesia's environmental targets. The project aims to make significant strides towards reducing plastic leakage into the oceans by 70% by 2025 and achieving nearly zero plastic pollution by 2060. Notably, ADB's financing here focuses on safeguarding water quality and supporting sustainable economic development. The government's commitment to reducing plastic waste and promoting sustainable industries aligns with this endeavor, which also helps in local economic empowerment by converting waste into resources.