SABIC signed MoU with the Yanbu Chamber of Commerce to promote local content

SABIC signed MoU with the Yanbu Chamber of Commerce to promote local content

SABIC signed a Memorandum of Understanding (MoU) with the Yanbu Chamber of Commerce and Industry to continue enabling the objectives of local content, business development and technology transfer, said the company.

The MoU was signed at Yanbu Chamber headquarters on May 23 in the presence of Prince Saud bin Khalid Al-Faisal, Deputy Governor of the Madinah region.

The MoU was signed by Eng. Abdullah Saif Al-Araifi, Vice President, SABIC’s Local Content and Business Development Unit, and Ahmed bin Salem Al-Shaghdali, Chairman of the Board of Directors of Yanbu Chamber, in the presence of a number of officials from SABIC and Yanbu Chamber.

It is meant to promote cooperation to develop local content initiatives in targeted sectors, promote job creation, localize industries and technologies, and share expertise.

The signing of the MOU with the Yanbu Chamber demonstrates the commitment of SABIC – through its Nusaned™ initiative – to support the national workforce and competencies and develop local content to promote the national industry in the Kingdom. The aim includes creating job opportunities, developing innovation and advancing industrial production, which eventually contributes to achieving the goals of the Saudi 2030 Vision.

The MoU sheds light on the various initiatives and investments introduced by SABIC to serve the community by training and empowering the youth and developing the efficiency of the Saudi workforce and entrepreneurs. It is also a part of SABIC’s national initiative (Nusaned™), which is meant to support small and medium-sized local manufacturing companies to contribute to developing local content.

As per MRC, SABIC has completed the acquisition of Clariant’s 50% stake in specialties company Scientific Design. The purchase makes SABIC a 100% shareholder of Scientific Design, which is a licensor of high-performance process technologies and catalysts producer.

As MRC informed previously, in January 2022, ExxonMobil and SABIC announced the successful startup of Gulf Coast Growth Ventures world-scale manufacturing facility in San Patricio County, Texas. The new facility will produce materials used in packaging, agricultural film, construction materials, clothing, and automotive coolants. The operation includes a 1.8 MM metric tpy ethane steam cracker, two polyethylene (PE) units capable of producing up to 1.3 MM metric tpy, and a monoethylene glycol (MEG) unit with a capacity of 1.1 MM metric tpy.

Saudi Basic Industries Corporation (SABIC) ranks among the world's top petrochemical companies. The company is among the world's market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.
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Petronas, Pertamina and PTT Intensify Collaboration on methane emissions management

Petronas, Pertamina and PTT Intensify Collaboration on methane emissions management

Petronas and key energy players at the ASEAN Energy Sector Methane Roundtable 2022 are intensifying collaboration on methane emissions management in the region by leveraging collective capabilities, global best practices and actionable insights to progress the shared ambition towards a lower-carbon future, said the company.

The virtual Roundtable, the second in the series held on 19 May 2022, was hosted by PETRONAS and supported by Thailand’s PTT Public Company Limited (PTT) and Indonesia’s PERTAMINA. The initiative is part of the collaborative effort between energy companies to raise awareness, elevate conversation and champion the climate change agenda in the region, particularly on effective methane emissions management.

The session was attended by participants from PETRONAS, PTT, PERTAMINA and key ASEAN oil and gas companies as well as international organisations such as the International Energy Agency (IEA), the World Bank, the UN Environment Programme (UNEP) and the Environment Defense Fund (EDF). Also present were representatives from the Ministry of Environment and Water, Malaysia (KASA), the Economic Planning Unit, Prime Minister’s Department, Malaysia (EPU), Embassy of the United States of America in Malaysia, the Ministry of Economy, Trade and Industry (METI), Japan and Japan Oil, Gas and Metals National Corporation (JOGMOC).

In his welcoming address, PETRONAS President and Group CEO, Datuk Tengku Muhammad Taufik said a transition strategy that is responsible and equitable is key to ensure the sustainability of ASEAN’s energy system.

He said, “As part of our duty as energy companies, it is imperative that we navigate these challenges with a deep-rooted purpose. We must remain at the heart of an effective engine to drive economic recovery by providing energy that is clean, reliable and affordable as well as rally support to shape an ecosystem that will enable a responsible and just transition.

We remind, Perstorp Group said that it is to be acquired by PETRONAS Chemicals Group Berhad (PCG). PCG announced that it has signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB. The agreement was signed with Financiere Foret S.a.r.l, a company under PAI Partners, a European private equity firm.
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ProAmpac acquired Specialty Packaging

ProAmpac acquired Specialty Packaging

ProAmpac, a leader in flexible packaging and material science, announced that it has acquired Specialty Packaging, Inc. (“Specialty Packaging”), a family-owned manufacturer of specialty paper, film and foil packaging products for the fast food and food services industries, said the company.

The addition of Specialty Packaging’s complementary product portfolio and manufacturing capabilities extends ProAmpac’s reach with food service customers and expands its footprint to the southwestern United States.

Based in Fort Worth, Texas, Specialty Packaging is a leading provider of paper, film, foil bags, sandwich wraps, basket liners and other custom products for longtime blue-chip fast food and food service brands. The company produces custom and stock paper, film and foil products from its state-of-the-art 100,000 square-foot facility. With this acquisition, ProAmpac broadens its portfolio of highly customized, recyclable food packaging solutions and increases its paper bag converting capacity.

Greg Tucker, Founder and CEO of ProAmpac, said, “Specialty Packaging has a very complementary offering of high-quality products and a proven commitment to customer service. I am eager to welcome the Specialty Packaging team to the ProAmpac family. We are excited to expand our customer relationships and enhance our manufacturing presence as we work together to strengthen our position as an industry leader in specialty, sustainable packaging."

"We are pleased to join forces with the ProAmpac team, who values the history of our family-owned business and are committed to our company’s long-term growth,” said Hank Dorris, President at Specialty Packaging. “With ProAmpac’s extensive and comprehensive manufacturing capabilities, we will be able to better serve our existing customers while expanding into exciting new end-markets."

Cincinnati-based ProAmpac is owned by Pritzker Private Capital along with management and other co-investors. ProAmpac has over 50 sites globally, with close to 5,800 employees supplying over 5,000 customers in 90 countries. ProAmpac innovates, engineers and manufactures flexible and sustainable packaging and material science solutions for various consumer, healthcare, e-commerce, retail and industrial goods markets.

Kaitlyn Desai, Vice President at Pritzker Private Capital, added, “This acquisition enhances ProAmpac’s leading position in the food packaging sector. The addition of Specialty Packaging’s highly complementary product lines create a truly exciting combination. We look forward to continuing our strong partnership with Greg and the ProAmpac team and welcome Specialty Packaging to the PPC family."

As per MRC, Amcor, a global leader in developing and producing responsible packaging solutions, announced an investment to establish new thermoforming capabilities for medical packaging in its Sligo, Ireland, healthcare packaging facility. The multi-million-dollar investment will strengthen Amcor’s leadership in the growing industry for sterile packaging, offering customers in Europe and North America another site with comprehensive healthcare solutions.

We remind, Indorama Ventures completed the acquisition of Ngoc Nghia Industry, one of Vietnam’s leading PET packaging companies. The acquisition will boost IVL's market position as it continues to expand its integrated offering of PET products to major multinational customers throughout the region. Ngoc Nghia is a trusted market leader in PET, preforms and closures, with long-term partnerships with major global and Vietnamese brands in the beverage and non-beverage industries. It has four manufacturing facilities in Vietnam's north and south with a total production capacity of 5.5 B units of PET preforms, bottles and closures, totaling 76,000 tpy of PET conversion.

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S&B selected as contractor for New Hope Energy advanced plastics recycling unit

S&B selected as contractor for New Hope Energy advanced plastics recycling unit

S&B Engineers and Constructors (S&B) signs a multi-year master service agreement to provide engineering, procurement and construction (EPC) services for New Hope Energy’s plastics pyrolysis unit, said Hydrocarbonprocessing.

The initial project under this partnership is the expansion in Tyler, Texas. The expansion will add 420 metric tons per day of capacity to convert plastic waste to chemical feedstocks in the existing facility. This expansion will allow the Tyler plant to divert more than 300 million pounds of plastic waste from landfills annually. The project also represents a long-term alliance between S&B and New Hope Energy, an environmental technology company developing advanced chemical recycling systems.

"We selected the S&B team for this significant project because of their deep technical expertise, fully-integrated EPC capabilities and 50+ year history of successfully delivering industrial-scale facilities,” said Ron Nussle, COO and President of New Hope Energy. “We look forward to the long-term program and collaborative partnership with S&B and its highly developed supply chain as we grow our advanced chemical recycling systems to create a circular economy that moves the U.S. toward a sustainable future."

S&B will provide full EPC services for the pyrolysis unit expansion to industrial-scale using the Lummus New Hope Plastic Pyrolysis Technology to process plastic waste into renewable chemical feedstocks. “We’re excited to partner with New Hope to boost its advanced recycling capacity to create solutions for plastic waste,” said Ray Sherman, President of S&B’s Energy Transition, Power and Industrial business unit. “S&B remains at the forefront of energy transition projects because of our engineering expertise and the ability to safely execute on time and within budget."

The project began in late 2021, with construction completion and commissioning expected in early 2024.

As per MRC, INEOS Styrolution, the global leader in styrenics, has announced the introduction of its new Styrolution PS ECO 260 MR85 grade containing mechanically recycled post-consumer waste. This grade is available across markets in Asia at commercial scale with immediate effect. The new Styrolution PS ECO 260 MR85 contains 85 percent recycled post-consumer content from waste electrical and electronic equipment (WEEE). It offers identical mechanical properties as virgin HIPS equivalent, including very good mechanical performance, consistency and high fluidity, making it an excellent drop-in solution for application developers in the household and electronics industries.
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ADNOC, BP and Masdar forge energy partnership

ADNOC, BP and Masdar forge energy partnership

The Abu Dhabi National Oil Company (ADNOC), oil major BP and Abu Dhabi future energy company Masdar have joined forces to develop clean hydrogen and technology hubs, said Hydrocarbonprocessing.

Announcing their new-energy partnerships, ADNOC said the H2Teesside low-carbon hydrogen project with BP had moved into the design phase.

Other partnerships include a feasibility study for a low-carbon hydrogen project in the UAE and an expanded ADNOC-BP-Masdar partnership to explore the production of sustainable aviation fuels from municipal waste and green hydrogen in Abu Dhabi.

Masdar and BP will also explore potential collaboration on HyGreen Teesside, BP's green hydrogen project powered by offshore wind in the UK's Teesside industrial cluster.

The new partnership builds on framework agreements signed during a Sept. 2021 visit to the UK by UAE President Sheikh Mohammed bin Zayed al Nahyan.

We remind, Borouge, a joint venture between Abu Dhabi National Oil Company (Adnoc) and Austrian chemical producer Borealis, on Monday said it secured seven cornerstone investors, including India’s wealthy Adani family for its USD2 billion initial public offering (IPO).

As per MRC, Adnoc and Mubadala Mubadala announced a strategic transaction involving Borealis, one of Europe’s leading petrochemical companies. Under this agreement, Adnoc will acquire a 25% shareholding in Borealis from Mubadala. Upon completion of the transaction, which is subject to customary closing conditions and regulatory approvals, Borealis will be owned 25% by Adnoc and 75% by OMV, an Austrian multi-national integrated oil, gas and petrochemical company listed on the Vienna Stock Exchange.
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