Saudi Investment Recycling Company (SIRC), a subsidiary of Saudi Public Investment Fund (PIF), said it has signed a MoU with Saudi petrochemical giant Sabic to help achieve a circular economy, one of the key objectives of Saudi Vision 2030. As per the deal, SIRC will source, collect, sort and supply the feedstock for the chemical recycling facility from municipal solid waste. The MoU, which was recently signed at Sabic headquarters in Riyadh, also proposed a feasibility study on building a chemical recycling plant in the kingdom to convert mixed plastic waste (MPW) into pyrolysis oil. The deal is aligned with Sabic’s Trucircle initiative as part of its vision of a circular economy. Trucircle covers certified circular products, made through feedstock recycling of difficult to recycle plastic waste; certified renewable products from second-generation bio-based feedstock; mechanically recycled products to improve recyclability and end-use properties; and design for recyclability for products that have better recyclability characteristics. Its portfolio has applications in key end markets such as packaging,...read more...