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Rabigh Refining and Petrochemical Co. (Petro Rabigh) has signed three memorandums of understanding (MoUs) with investors to set up manufacturing plants in the Rabigh PlusTech Park.
The first MoU was inked with Pure Life Industries Middle East Co. to manufacture 80,000 water filters and flat ceramic membranes a year, the company said in a statement published on the Saudi stock exchange.
The second MoU was signed with Saudi Top Co. to produce 50,000 tonnes of recycled polymer compounds per annum.
The third agreement was concluded with Green Community Co. to produce 100,000 tonnes per annum of recycled plastic resin for food applications.
No details were shared on the total investment.
The statement said that the new facilities will contribute to achieving Vision 2030 goals and maximise the added value of hydrocarbons.
(Writing by D Madhura; Editing by Anoop Menon)
