30,000sqm facility will process mixed plastic waste and support Abu Dhabi’s circular economy
Abu Dhabi, UAE – 24 October, 2022: Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu Dhabi, has signed an agreement with Renov8 Polymer Industries Ltd, part of leading manufacturer Just Right Inc, for the establishment of an advanced recycling facility at KEZAD’s Polymers Park. The move will boost Abu Dhabi’s transition towards a circular economy.
With business activities in over 47 countries, Just Right Inc is a global leader in the manufacturing of high-quality cladding solutions and printing media. Through its subsidiary, Renov8 Polymer Industries Ltd, which offers industrial recycling solutions to businesses globally, the group is expected to bring its best-in-class practices to Abu Dhabi to deliver one of the region’s most sustainable polymer projects.
Under the agreement, Renov8 Polymer Industries Ltd will invest AED 552 million ($150 million), to develop a 30,000sqm plot in KEZAD’s Polymers Park, as well as an expansion plot of 38,000sqm adjacent to the primary facility, for the recycling of mixed plastic waste.
In addition to supporting the broader UAE Net-Zero by 2050 strategy, the agreement seeks to advance the Abu Dhabi Industrial Strategy for which the transition towards a circular economy forms a cornerstone. The facility will also benefit from Abu Dhabi’s upcoming carbon trading exchange platform, set to be the world’s first fully regulated carbon trading exchange and carbon clearing house.
Mohamad Al Khadar Al Ahmed, Chief Executive Officer – Khalifa Economic Zones Abu Dhabi – KEZAD Group, said, “In line with our wise leadership’s industrial strategy, KEZAD Group is committed to supporting circular economy models in Abu Dhabi throughout our integrated business ecosystem. We take immense pride in welcoming Renov8 Polymer Industries Ltd to our family. The new facility will be a pioneering showcase of innovation and sustainability in plastic production and the remanufacturing of plastic waste.
“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. The project will add further value to the ecosystem while strengthening Abu Dhabi’s position as a sustainable and competitive industrial hub.”
Nilesh Jain, Founder & CMD, Renov8 Inc,said: “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.
“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.”
Renov8 Polymer Industries, as part of Just Right Middle East’s existing manufacturing ecosystem, employs advanced production technology and processes with state-of-the-art factories that meet the highest technical standards, which are TÜV Sud & PSB compliant.
About AD Ports Group:
Established in 2006, AD Ports Group today serves as the region’s premier facilitator of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.
Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones within KEZAD, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
AD Ports Group is rated A+ by S&P and A+ by Fitch.
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About KEZAD Group
KEZAD Group, a subsidiary of AD Ports Group under its Economic Cities & Free Zones Cluster, is the largest operator of integrated and purpose-built economic zones in the United Arab Emirates. Providing competitive business ecosystems that encourage unprecedented growth, KEZAD Group is a key strategic enabler of Abu Dhabi’s vision for the diversification of its economy.
KEZAD Group’s vital infrastructure and services span 12 economic zones (located in Abu Dhabi City, Al Ain City and Al Dhafra Region) covering a total area of 550km2 and including more than 40 staff accommodation complexes under its subsidiary KEZAD Communities.
KEZAD Group provides strategic market access, lower operating costs, and ease of doing business to more than 1,750 investors from 17 key industrial sectors. KEZAD Group’s ecosystem provides world-class transportation infrastructure with multimodal connectivity, 100 percent foreign ownership, 100 percent repatriation of capital and profit, the potential for duty-free trade within the region, and advanced technology platforms.