Eastman Chemical has announced that it will build one of the world's largest plastic-to-plastic recycling facilities at its site in Kingsport, Tenn. The company will invest about $250 million in the facility over the next two years, which will support the company's sustainability and waste recycling goals.

The new facility, which is expected to be mechanically complete by the end of 2022, will recycle more than 250 million pounds of plastic a year by 2025 and more than 500 million pounds of plastic waste annually by 2030 via molecular recycling technologies.

"With the growing demand for products made with recycled content and the urgent need to address the global plastic waste crisis, now is the time for Eastman to take this step," Eastman CEO Mark Costa said during an announcement Friday of the new venture. "This will be a great investment for our local community and our customers, while also creating small business jobs to develop the recycling infrastructure necessary to support investment in a sustainable future."

Utilizing Eastman's polyester renewal technology, Eastman will use over 100,000 metric tons of plastic waste that cannot be recycled by current mechanical methods to produce premium, high-quality specialty plastics made with recycled content.

Eastman was one of the pioneers in developing methanolysis technology at a commercial scale and has more than three decades of expertise in this innovative recycling process, Costa said.

"Eastman is a global leader in the materials sector, and we are grateful that they continue to be one of the largest employers in our state," Tennessee Gov. Bill Lee said during a visit Friday to Eastman's headquarters in Kingsport.

Bob Rolfe, the commissioner of economic and community development in Tennessee, said Eastman employs more than one-third of the Tennesseans that work in our state's chemical industry. Eastman employs more than 7,000 employees in and around its Kingsport, Tennessee headquarters among its total staff of more than 14,000 workers employed around the globe.

"The groundbreaking work done at Eastman's Sullivan County headquarters makes an international impact, and we are proud that the company continues to grow and invest in Northeast Tennessee," Rolfe said.