LyondellBasell to build advanced plastic recycling plant in Germany

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LyondellBasell (NYSE:LYB) said Friday it will move forward in building an advanced recycling plant at its Wesseling, Germany, site to convert pre-treated plastic waste into feedstock for new plastic production.

The plant will have a capacity of 50K metric tons/year of new plastic production to be used in applications such as food packaging and healthcare products.

The company expects to make a final investment decision on the MoReTec advanced recycling plant by the end of next year with a planned start-up by year-end 2025.

LyondellBasell's (LYB) strong long-term growth potential is one of three reasons to remain bullish on the stock despite headwinds, High Yield Investor writes in an analysis newly published on Seeking Alpha.