Showa Denko low-carbon ammonia produced from used plastics reduces CO2 emission by more than 80%

MOSCOW (MRC) -- Showa Denko KK (SDK) has confirmed that its process to produce "low-carbon ammonia" from used plastics at its Kawasaki Plant (Kawasaki City, Kanagawa Prefecture) emits more than 80% less GHGs (including CO2) than other conventional processes to produce ammonia from fossil fuels, said the company.

SDK has confirmed this GHG reduction effect with a method of calculation whose conformity with ISO has been certified by Japan Life Cycle Assessment Facilitation Centre (LCAF), which is an independent observer.

Thus, SDK has confirmed its low-carbon ammonia's excellent environmental performance with a method certified by a third party as the only case in Japan.

We remind, Showa Denko has decided to license its technology to produce vinyl acetate monomer (VAM) to Asian Paints Limited, a leading paint and decor company in India. In addition, SDK will provide Asian Paints with catalysts to be used for the company’s VAM production.

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Amcor, Licella partner to deliver recycled content from one of Australia’s first advanced recycling facilities

MOSCOW (MRC) -- Switzerland-headed Amcor plc announced its Amcor Australia & New Zealand (ANZ) business has signed a Memorandum of Understanding (MoU) with Australian-based technology pioneers, Licella Holdings Ltd (Licella), to invest in one of Australia’s first plastic advanced recycling facilities, said the company.

As one of the first advanced recycling facilities to be built in Australia, the agreement supports Amcor and Licella’s commitment to creating a local circular economy for soft plastics in Australia and helps advance Amcor’s target to achieve 30% recycled content across its portfolio by 2030.

Located in Melbourne, stage one of the proposed facility is expected to process 20,000 tons per annum of waste plastic utilizing Licella’s pioneering Cat-HTR™ technology, relying on collections activities to divert soft plastic waste from landfill or incineration. This stage of the project has already received approval from the Victorian Environmental Protection Agency.

Amcor ANZ and Licella previously collaborated on Licella’s Feasibility Study, which validated a local supply chain for food-grade recycled soft plastic and demonstrates the critical economic and environmental benefits of the proposed facility.

Both parties will be undertaking further discussions on final terms and arrangements, which will be subject to respective internal approvals.

We remind, Amcor, a global leader in responsible packaging solutions, on 15 Dec 2022 announced the opening of its new state-of-the-art manufacturing plant in Huizhou, China. With an investment of almost USD100 mln, the 590,000-sq-ft plant is the largest flexible packaging plant by production capacity in China, further strengthening Amcor's ability to meet growing customer demand throughout Asia Pacific.

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Petro Rabigh says 3 MoUs on factories in Rabigh PlusTech Park expire in December 2023

Petro Rabigh says 3 MoUs on factories in Rabigh PlusTech Park expire in December 2023

MOSCOW (MRC) -- Rabigh Refining and Petrochemical Co. (Petro Rabigh) said that the three memoranda of understanding (MoUs) signed with investors to establish manufacturing factories in the Rabigh PlusTech Park are set to expire on Dec. 31, 2023, according to a statement to Tadawul, said Argaam.

The signing of the MoUs will not have a financial impact, the statement said. There are no related parties.

The company signed, on Dec. 13, MoUs with investors to establish manufacturing factories in the Rabigh PlusTech Park. An MoU was concluded with Pure Life Industries Middle East Co. to produce 80,000 water filters and flat ceramic membranes yearly. The second was signed with Saudi Top Co. to produce 50,000 tons per annum (tpa) of recycled polymer compounds.

The third MoU was inked with Green Community Co. to produce 100,000 tpa of recycled plastic resin for food applications.

As per MRC, Rabigh Refining and Petrochemical Co. (Petro Rabigh) has signed three memorandums of understanding (MoUs) with investors to set up manufacturing plants in the Rabigh PlusTech Park. The first MoU was inked with Pure Life Industries Middle East Co. to manufacture 80,000 water filters and flat ceramic membranes a year, the company said in a statement published on the Saudi stock exchange. The second MoU was signed with Saudi Top Co. to produce 50,000 tonnes of recycled polymer compounds per annum.
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Saudi Top Trading Co. to build USD27m factory at Petro Rabigh plastic facility

Saudi Top Trading Co. to build USD27m factory at Petro Rabigh plastic facility

MOSCOW (MRC) -- Nomu-listed Saudi Top Trading Co. announced that one of its factories, Saudi Top Plastic factory, signed on Dec. 13 a memorandum of understanding (MoU) with Rabigh Refining and Petrochemical Co. (Petro Rabigh), according to a statement to Tadawul, said Argaam.

The MoU is to establish a factory with a total construction value of about SAR 100 million in two phases, the first with a value of nearly SAR 60 million and the second phase of approximately SAR 40 million.

The new factory will be established on an area of 34,000 square meters, and for a period of 30 years, to produce 50,000 tons annually of polymer compounds, rubber, and industrial waxes in Rabigh Plastic Technology Complex.

It pointed out that the supply of polymer scrap materials, rubber, and industrial wax for the new factory will be from Petro Rabigh.

The 12-month MoU started from signing date, Saudi Top Trading stated, noting that there are no related parties.

The financial impact of this project will be determined later upon the completion of all agreements related to this MoU, it stated.

We remind, Rabigh Refining and Petrochemical Co. (Petro Rabigh) has signed three memorandums of understanding (MoUs) with investors to set up manufacturing plants in the Rabigh PlusTech Park. The first MoU was inked with Pure Life Industries Middle East Co. to manufacture 80,000 water filters and flat ceramic membranes a year, the company said in a statement published on the Saudi stock exchange. The second MoU was signed with Saudi Top Co. to produce 50,000 tonnes of recycled polymer compounds per annum.

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Saudi Kayan expects to disclose 2022 financials in February

Saudi Kayan expects to disclose 2022 financials in February

MOSCOW (MRC) -- Saudi Kayan Petrochemical Co. announced today, Dec. 27, the latest update on its failure to issue 2022 financial statements, expecting to disclose them by the end of February 2023, according to a Tadawul statement, as per Argaam.

The petchem producer will no longer disclose preliminary financial statements for Q4 2022 and will only announce the annual results.

The step echoes Saudi Kayan’s endeavors to implement the best disclosure practices, it added.

We remind, Saudi Kayan swung to a third-quarter net loss of Saudi Riyal (SR) 812.3m on the back of lower selling prices. The company’s third-quarter earnings were also weighed by the increase in the average cost of its feedstock despite the increase in product quantities sold, the company said in a filing on the Saudi bourse, Tadawul. The petrochemical producer also recorded a loss of SR452.8m in the first nine months of this year on the back of higher feedstock costs and lower selling prices despite slightly higher sales.

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