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Eastman to Invest $1 Billion in Plastics Recycling Facility in France

  • Macron to tout investments as presidential vote looms
  • BASF, Loop Industries also plan to invest in French sites
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Eastman Chemical Co. plans to invest as much as $1 billion to build the world’s biggest molecular-plastics recycling facility in France, helping to cut consumption of fossil fuels -- and boosting President Emmanuel Macron‘s credentials, less than three months before the presidential election.

The facility will start operations in 2025, processing up to 160,000 tons annually of hard-to-recycle plastic waste that’s currently being incinerated, Eastman said in an e-mailed statement Sunday.