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2024/4/2

SABIC signs Memorandum of Understanding with Pashupati Group to target recycling opportunities in India

Riyadh, March 25, 2024 - SABIC, a global leader in the chemical industry, has signed a Memorandum of Understanding (MoU) with Pashupati Group, a leading Indian recycler of plastic waste and supplier of high-quality recycled products, including polyolefin pellets and recycled packaging bags, with operations in North, West & Southern parts of India. The MoU is targeted at developing local recycling opportunities in India, and expanding SABIC’s global network of qualified recycling partners.

As part of the MoU, both companies will share best practices and exchange knowledge in the various processes of used plastic material, including developing methods and to add value in processing using virgin polyolefin and recycled polyolefin, to both compounded and non-compounded finished products.

Sanjay Mishra, General Manager, Engineering Thermoplastics & Performance Polymers at SABIC, states: “We are very pleased about collaborating with Pashupati Group. This is a crucial first step in our efforts to support and accelerate the transformation of India’s plastics economy towards circularity. At the same time, it expands our collaboration with experienced local recyclers in Asia as we are continuously sourcing valuable feedstock to meet the growing demand for our TRUCIRCLE^™ portfolio of recycled, circular polymers.”

Under the execution of the MoU, Pashupati, will bring in its expertise in the mechanical and chemical processing of used plastic, while SABIC will focus on the marketing and sales of recycled products. The agreement also provides for an advanced recycling project to convert used plastic into pyrolysis oil which SABIC will then be able to use in the production of certified circular polymers with the same performance properties as virgin plastics.

Bankey Goenka, Managing Director at Pashupati Group, adds: “This MOU is an amalgamation of two champions in their own fields: Pashupati Group, a leader in plastic recycling providing quality recyclates (PET & Polyolefin) including recyclates from mountain and ocean bound plastics to the global market with a proven track record over two decades, and SABIC, a market leader driving innovative products and solutions for a circular plastics economy. This is a testament to the commitment of both SABIC and Pashupati Group towards the circular economy and contributing to the conservation of our planet.”

This MoU follows SABIC’s 2021 collaboration with Malaysia-based plastic recycling company HHI, to create polymers from recovered ocean bound and ocean plastics. The polymers have since been used to manufacture new products, including the Microsoft Ocean Plastic Mouse, as well as the Microsoft Surface Thunderbolt^™ 4 Dock.

SABIC’s TRUCIRCLE portfolio and services includes certified circular polymers, design for recyclability, mechanically recycled products, certified renewable polymers from bio-based feedstock and closed loop initiatives to recycle plastic back into high quality applications and help prevent valuable used plastics from becoming waste.

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