Recycling facility partnership

Under the agreement, Renov8 Polymer Industries has committed to investing US$150 million to develop a 30,000sqm plot as well as an adjacent 38,000sqm expansion plot for the recycling of mixed plastic waste.

Nilesh Jain, founder and chief managing director of Renov8 called the agreement a ‘significant milestone’ in the first phase of the company’s circular economic model.

“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,” he said.

The deal aligns with the UAE’s ‘Net-Zero by 2050’ strategy as well as helping the region transition to a circular economy. The facility will also benefit from Abu Dhabi’s upcoming carbon trading exchange platform, reported to be the world’s first fully regulated carbon trading exchange and carbon clearing house.

“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,” said Mohamad Al Khadar Al Ahmed, chief executive KEZAD Group.