EGYPT – American multinational conglomerate corporation, Honeywell has signed an MOU with Egypt’s Environ Adapt for Recycling Industries to advance plastics recycling in the country.
The two organizations will explore the development of the first chemical recycling facility in Egypt that would be equipped with Honeywell’s advanced technology, capable of converting waste plastic into valuable recycled polymer feedstock (RFP).
The agreement, which was made at the COP27 summit in Sharm El-Sheikh, Egypt, supports the goals of Egypt’s Vision 2030, a comprehensive long-term political, economic, and social vision created in accordance with the UN Sustainable Development Goals (SDGs).
According to the plan outlined in the Memorandum of Understanding, Honeywell UOP will collaborate with Environ to implement its most recent UpCycle Process Technology.
The technology, when combined with other mechanical, chemical and recycling processes as well as advancement in collection and sorting, has the potential to help recycle up to 90% of plastic waste.
This signifies a significant increase in the amount of waste plastic that may be used as feedstock for polymers.
Khaled Hashem, President of Honeywell Egypt and North Africa said: “With a broad portfolio of ready-now solutions that reduce waste, lower carbon emissions and support the sustainable energy transition, Honeywell is well-positioned to support Middle Eastern and North African countries in their ESG goals.”
“Our Upcycle Process Technology represents an important milestone in the area of plastics circularity, and we are excited about the opportunity to collaborate with Environ to see how the technology could be deployed in Egypt in support of the country’s sustainability objectives.”
The MoU further gives Environ the authority to carry out a project feasibility study to investigate trends, feedstock availability, and prospective markets, as well as technical studies for the operation of the plant and facility, overall project timetable, financial modeling, and analysis.
Working with some of the country’s most important government and private sector organizations, Honeywell has been expanding its presence, activities, and investments in Egypt. It does this from its North African hub in Cairo.
The business has operated in Egypt for more than 60 years and is dedicated to offering the country’s long-term focus on the localization of high-caliber manpower and technology opportunities.
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