Malaysia’s Petronas Chemicals Group (PCG) has signed a memorandum of understanding (MoU) with UK company Plastic Energy Ltd, a chemical recycling company, to collaborate in addressing plastic waste that cannot be recycled by conventional means in Malaysia. The strategic collaboration marks the first step towards a circular economy which maximizes the plastics value chain. PCG and Plastic Energy will jointly carry out a feasibility study to establish a facility to convert plastic waste into Tacoil, Plastic Energy’s feedstock to create recycled virgin-quality plastics from low quality, mixed plastic waste otherwise destined for incineration or landfill. The collaboration will enable PCG to utilize Tacoil produced by Plastic Energy for polymer production in its petrochemical complex in Pengerang Integrated Complex and obtain circular polymer certification. If materialized, PCG will be the first petrochemical company in Southeast Asia to invest in a chemical recycling project which converts mixed plastics waste into a virgin-quality polymer.

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Plastics Today