Ishikawajima-Harima Heavy Industries Co said it has developed technology that allows it to extract raw material for petrochemical products from waste plastic, with a recovery rate of about 60 pct, the Nihon Keizai Shimbun reported, without identifying sources.

Although there are already methods of recycling plastic into fuel or naphtha, this is the first technology for recovering a high-value-added petrochemical material in a stable manner, according to the major heavy electrical machinery manufacturer.

The new technology works on the waste plastic components of polyethylene and polypropylene. Gallium silicate is used as a catalyst to break down plastic into hydrogen and BTX, which contains benzene, toluene and xylene. BTX, used as a raw material for drugs and plastics, has been in short supply due to soaring crude oil prices.

IHI has constructed a small recycling plant that can process 1kg of waste plastic per hour at its Yokohama factory. About 600 grams of BTX can be recovered from 1kg of plastic, and the plant can run continuously for 100 hours.

The company is planning to construct a larger pilot plant that can process 10kg of plastic per hour, and aims to improve stability in operations and recovery rate. It also seeks to make this technology commercially feasible by enlisting the cooperation of makers of petrochemical materials, the report said.