SEATTLE (Scrap Monster): Petronas Chemicals Group Bhd (PCG) has signed a Memorandum of Understanding (MoU) with ExxonMobil towards assessing the potentials for implementing a large-scale advanced plastic recycling project in Malaysia. The agreement also seeks to collaborate on opportunities to support improvements in plastic waste collection and sorting in the country.
Mohd Yusri Mohamed Yusof, Chief Executive Officer and Managing Director, PCG noted that it has been continuously exploring and implementing innovative technologies to develop sustainable solutions. The collaboration with ExxonMobil is yet another significant step towards the transition into a circular economy. It signifies the commitment of the company in using recycled raw materials in the chemical industry, he added.
Meantime, Dave Andrew, vice-president of new market development at ExxonMobil noted that advanced recycling plays an important role in meeting growing demand for circular products and address the challenge of plastic waste. By combining the expertise of both the organizations, it expects to deliver acceleration to a circular economy for plastics in the region.
Incidentally, ExxonMobil is going ahead with its plan to build around half-a-million tonnes of advanced recycling capacity around the world by end-2026.
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