PETRONAS Chemicals Signs MOU With PLASTIC ENERGY Ltd
Last update: 26/06/2019
KUALA LUMPUR, June 26 (Bernama) -- PETRONAS Chemicals Group (PCG), the petrochemical arm of PETRONAS, yesterday signed a Memorandum of Understanding (MoU) with PLASTIC ENERGY Ltd, a chemical recycling company, to collaborate in addressing plastic waste that cannot be recycled by conventional means in Malaysia. The strategic collaboration marks the first step towards a circular economy which maximises the plastics value chain.
PCG and PLASTIC ENERGY will jointly perform a feasibility study to establish a facility to convert plastic waste into TACOIL, PLASTIC ENERGY’s optimal feedstock to create recycled virgin-quality plastics from low quality, mixed plastic waste otherwise destined for incineration or landfill.