KEZAD Group to Welcome AED 552 million Advanced Recycling Facility
30,000sqm facility will process mixed plastic waste and support Abu Dhabi’s circular economy
[By: AD Ports Group & KEZAD Group]
Abu Dhabi, UAE – 24 October, 2022: Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu Dhabi, has signed an agreement with Renov8 Polymer Industries Ltd, part of leading manufacturer Just Right Inc, for the establishment of an advanced recycling facility at KEZAD’s Polymers Park. The move will boost Abu Dhabi’s transition towards a circular economy.
With business activities in over 47 countries, Just Right Inc is a global leader in the manufacturing of high-quality cladding solutions and printing media. Through its subsidiary, Renov8 Polymer Industries Ltd, which offers industrial recycling solutions to businesses globally, the group is expected to bring its best-in-class practices to Abu Dhabi to deliver one of the region’s most sustainable polymer projects.
Under the agreement, Renov8 Polymer Industries Ltd will invest AED 552 million ($150 million), to develop a 30,000sqm plot in KEZAD’s Polymers Park, as well as an expansion plot of 38,000sqm adjacent to the primary facility, for the recycling of mixed plastic waste.
In addition to supporting the broader UAE Net-Zero by 2050 strategy, the agreement seeks to advance the Abu Dhabi Industrial Strategy for which the transition towards a circular economy forms a cornerstone. The facility will also benefit from Abu Dhabi’s upcoming carbon trading exchange platform, set to be the world’s first fully regulated carbon trading exchange and carbon clearing house.
Mohamad Al Khadar Al Ahmed, Chief Executive Officer - Khalifa Economic Zones Abu Dhabi - KEZAD Group, said, “In line with our wise leadership’s industrial strategy, KEZAD Group is committed to supporting circular economy models in Abu Dhabi throughout our integrated business ecosystem. We take immense pride in welcoming Renov8 Polymer Industries Ltd to our family. The new facility will be a pioneering showcase of innovation and sustainability in plastic production and the remanufacturing of plastic waste.
“The KEZAD Polymers Park continues to attract a wide range of manufacturing and value-adding companies to Abu Dhabi, owing to the easy access to raw materials that it provides, and the direct links to global markets it offers. The project will add further value to the ecosystem while strengthening Abu Dhabi’s position as a sustainable and competitive industrial hub.”
Nilesh Jain, Founder & CMD, Renov8 Inc, said: “The signing of this agreement represents a significant milestone for us in our efforts to develop the first phase of our circular economic model, which will feature one of the most technologically advanced recycling facility for Polymers.
“In our endeavour to develop a sustainable polymers industry, we will deploy advanced manufacturing processes at the KEZAD facility to deliver a comprehensive ESG-driven business model. Renov8 will greatly benefit from the integrated platform that KEZAD offers, with proximity to Khalifa Port providing greater access to global consumer markets.”
Renov8 Polymer Industries, as part of Just Right Middle East’s existing manufacturing ecosystem, employs advanced production technology and processes with state-of-the-art factories that meet the highest technical standards, which are TÜV Sud & PSB compliant.
The products and services herein described in this press release are not endorsed by The Maritime Executive.