LONDON: SABIC set to build a chemical factory in Spain, and the plant will be powered by renewable energy.
The Cartegena-situated plant will be ready and start to carry out its functions in 2024.
The contract will contact Iberdrola, the most significant electricity entity globally, about investing €70 million. The investment will cater for the installation of 263,000 solar panels on a Sabic-owned soil.
The contract has existed for the last twenty-five years. It is a manifestation of petrochemical ambitions of having 4Gw energy of either wind or solar energy fitted in its regions by 2025.
In 2019, the entity fitted solar panels on its area that are situated in India and Thailand. Those solar installations have helped to decrease carbon emissions by 200 tons.
Bob Maughon, EVP Sustainability, Technology, and Innovation asserted that having such useful contracts enable growth and expansion of various businesses. Maughan added that the success experienced in the previous years has been as a result of such dealerships.
Soon after the facility, which is powered by electricity, comes to light, consumers who are both in building and automotive divisions will have the freedom to access all polycarbonate solutions produced by the 100% renewable energy.
Apart from constructing a renewable power factory, the next on the list of SABIC is the installation of Photovoltaic (PV) technology at its working centers in Riyadh.
Once everything is done, SABIC will take the produced electricity and then convey it to local factories of manufacturing chemicals.
SABIC manufactures plastics, chemicals, and agricultural nutrients across the world. SABIC has employed over 33k people.
Last year was another year of transformation for petrochemicals confining to the overall international transformation process of SABIC.
Its productions have been of great importance. For instance,
1. Facilitating efficiency and production as sustainability commitment gets bolstered.
2. Formulation of new regulations that enhance performance and flexibility to consumers.
3. Enabling consumers to develop unique and exceptional commodities they endorse
End products from various contracts serve as a testimony to the common benefit of the thriving commercial alliances. The products have met all the recommended standards to meet the taste of the consumer.
Whatever the end product is, the type of invention, business partners, and stock, the firm always makes sure that their products meet the ever-increasing needs of the world. The firm also attempts to meet small circular solutions that help reduce any impacts on the environment.