Abu Dhabi: The Kezad Group in Abu Dhabi has signed up Renov8 Polymer Industries Ltd for a recycling facility at its Polymers Park.
Under the agreement, Renov8 Polymer Industries Ltd will invest Dh552 million to develop a 30,000sqm plot, as well as an expansion plot of 38,000sqm adjacent to the primary facility, for the recycling of mixed plastic waste.
“The new facility will be a pioneering showcase of innovation and sustainability in plastic production and the remanufacturing of plastic waste,” said Mohamad Al Khadar Al Ahmed, CEO of Kezad Group.
“The Kezad Polymers Park continues to attract a wide range of manufacturing and value-adding companies to Abu Dhabi. “The project will add further value to the ecosystem while strengthening Abu Dhabi’s position as a sustainable and competitive industrial hub.”
According to Nilesh Jain, Founder & CMD, Renov8 Inc., “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.”
