The present subject matter claims a process and apparatus for forming, crystallizing and increasing the molecular weight of polymer particles which does not require re-heating the polyethylene terephthalate (PET) pellets after they are cut and crystallized in the under water cutting (UWC) section. In the existing solid state polycondensation (SSP) technologies where an UWC is used, high crystallinity of the PET pellets can occur, by cooling and re-heating the PET pellets, which results in reduced removal efficiency of by-products, such as acetaldehyde (AA) and furthermore also a reduction of the reaction rates of molecular weight increasing reactions.