Arab Finance: Honeywell has signed a memorandum of understanding (MoU) with Egypt’s Environ Adapt for Recycling Industries to upgrade the plastic recycling process in Egypt, according to an emailed press release on November 28th.
As per the signed MoU, both companies will jointly work on the development of the first chemical recycling facility in Egypt.
The facility will be equipped with Honeywell’s state-of-the-art technology and will be able to convert plastic waste into valuable recycled polymer feedstock (RFP).
Moreover, the MoU enables Environ to carry out a feasibility study to explore trends, feedstock availability and potential markets, technical studies for the operation of the plant and facility, as well as the overall project schedule, financial modeling and analysis.
Meanwhile, Honeywell UOP will provide Environ with technical and commercial information and analysis and broader project support.