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16-12-18
Sabic, Plastic Energy sign feedstock supply pact
(MENAFN) Saudi Arabia's chemical industry giant Sabic secured a memorandum of understanding with the UK's chemical plastics recycling leader Plastic Energy.
Under the MoU, the British giant will be providing feedstock for the Saudi giant in order to back its petrochemical operations within Europe.
The two Saudi and British companies will be establishing the first commercial plant in the Netherlands, aiming to develop a major feedstock dubbed as TACOIL.
Sabic general manager for Corporate Sustainability Frank Kuijpers commented: "sustainability is a core value at Sabic and the circular economy is a cornerstone of our strategy as evidenced by this unique agreement."
MENAFN1612201800450000ID1097836769
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