PVChem, BoReTech, and NSEC Sign Cooperation Agreement on rPET Food-Grade Technology Transfer and Offtake

The signing ceremony was attended by senior representatives from all parties. From PVChem: Mr. Truong Dai Nghia – Chairman of the Board of Director, Mr. Duong Tri Hoi – General Director; From NSEC: Mr. Phi Van Dung – Chairman of the Board, Mr. Nguyen Tat Thanh – CEO; From BoReTech: Mr. Paul Ou – Chairman; along with Board members, executive management, and related department representatives of all parties.

Mr. Paul Ou – Chairman of BoReTech (left), Mr. Duong Tri Hoi – General Director of PVChem (center), Mr. Phi Van Dung – Chairman of the Board of Directors of NSEC (right) at the signing ceremony

Promoting Green Consumption – Accelerating from the Early Stage of the Project

In their remarks, the representatives emphasized the importance of the rPET project in the context of the circular economy and sustainable development becoming an inevitable trend. Investment in an rPET production complex not only helps solve post-consumer plastic waste problems and reduce environmental burdens but also serves as a driving force for the domestic recycling industry to develop in a modern, standardized, and internationally integrated direction.

The cooperation agreements on technology provision and food-grade rPET product offtake are the next strategic steps following PVChem’s launch of its recycled PET production project in the Nghi Son Economic Zone, with a total capacity of 200,000 tons/year. Phase 1 is expected to begin operation in Q4/2026.

The project's rPET products use advanced recycling technology from Austria, integrated with BoReTech’s improvements, ensuring strict international safety certifications such as FDA (USA) and EFSA (Europe). These products are expected to meet the growing demand in the food, beverage, export packaging, and sustainable textile industries.

Furthermore, the partners will collaborate not only in technology transfer, equipment supply, and product offtake, but also in expanding the product portfolio from rPET, supporting input-output logistics, and jointly proposing policy initiatives to support the domestic recycled materials market.

Overview of the Signing Ceremony
 

The agreement with BoReTech – one of Asia's leading groups with over 30 years of experience in recycling technology and commercialization – and Nghi Son Environmental Corporation – a key player in plastic waste collection and management – establishes a model partnership among manufacturers, technology providers, and environmental-logistics units. This lays the foundation for a closed-loop recycling value chain in Vietnam.

Linking to Create a Circular Value Chain – Targeting the International Market

Mr. Truong Dai Nghia – Chairman of the Board of PVChem speaking at the signing ceremony
 

On behalf of PVChem, Mr. Truong Dai Nghia – Chairman of the Board of Directors – emphasized: “This cooperation agreement demonstrates PVChem’s sustainable development strategy and environmental responsibility, while affirming the circular value chain integration strategy we are pursuing – from technology and production to consumption and reuse.

In addition, the project affirms PVChem’s position within Petrovietnam’s value chain, with a strategy aimed at sustainable, circular, and green development.
We believe that our partners, BoReTech and NSEC, will be strategic links that help Vietnamese rPET products reach international markets, while spreading the message of green development, responsible consumption, and a circular economy.”
 

Representing BoReTech, Mr. Paul Ou shared: “BoReTech has over 30 years of experience in plastic recycling technology and production lines. We also have the capability to consume rPET products. Therefore, we are confident that the combination of BoReTech’s technological capacity with PVChem’s and NSEC’s local market experience will create a sustainable and efficient value chain for Vietnam’s plastic recycling industry.”

On behalf of NSEC, Mr. Phi Van Dung – Chairman of the Board – affirmed that the partnership with PVChem – a pioneer in the petrochemical field in Vietnam – and BoReTech – a world-leading rPET recycling technology provider – will be a solid foundation for the post-consumer PET recycling project to achieve the highest levels of economic, technical, and environmental efficiency.

This signing ceremony not only represents a commercial cooperation, but also reflects the long-term vision and shared responsibility of all parties in building a modern, green, and internationally integrated industrial development model.

Representatives of the parties witnessing and taking commemorative photos

The ceremony concluded in a solemn atmosphere, marking the first cooperative milestone between the three parties and opening a new pathway for Vietnam’s plastic recycling industry to meet international standards.
 

The Nghi Son rPET Project is one of PetroVietnam’s pioneering investments aimed at realizing its strategic orientation toward energy transition and the development of clean materials. The project contributes to reducing plastic emissions and enhancing Vietnam’s green production capacity in the context of global integration and the country’s commitments under COP26.