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Sabic, SIRC to set up recycling project; eye plastic waste-to-oil plant Riyadh, Dubai, 3 hours, 27 minutes ago Sabic, a global leader in diversified chemicals, signed a Memorandum of Understanding (MoU) with the Saudi Investment Recycling Company (SIRC), a wholly owned subsidiary of Saudi Public Investment Fund (PIF), to help the latter in setting up the first chemical recycling project to enable the use of recycled plastic feedstock.   The MoU, signed at Sabic headquarters in Riyadh on April 5, 2021, also proposed a feasibility study on building a chemical recycling plant in the Kingdom to convert Mixed Plastic Waste (MPW) into pyrolysis oil.   “This strategic collaboration will help us in our efforts to contribute to fulfilling the Kingdom’s waste management objectives aligned with Saudi Vision 2030,” said Yousef Al-Benyan, Sabic Vice Chairman and CEO.

Saudi arabiaUnited arab emiratesAr riyaSabic trucircleAbdulrahman saleh al fageehZiyad al shihaYousef al benyanSaudi public investment fundSaudi investment recycling companySaudi investment recycling corporationKingdom waste management national regulatory frameworkTradearabia news servicePublic investment fundMixed plastic wasteSaudi visionSabic vice chairman