Page 39 - Plastics News September 2016
P. 39
COMPANY NEWS
Ikea and Neste partner for Sabic and Shenhua Group
production of renewable, to set up coal-to-chemicals
bio-based plastics complex in China
Neste and IKEA have joined forces to take leadership Saudi Arabian petrochemical major Sabic has signed
in renewable, bio-based materials, and invite other an agreement to form a joint venture with China’s
companies to join the initiative. The partnership includes Shenhua Ningxia Coal Industry Group Co Ltd. (SNCG)
the production of plastics and other materials utilizing for setting up a green?eld coal-to-chemicals complex
Neste's renewable solutions in polymer production. The
partnership combines IKEA's commitment to reduce their
depence on virgin fossil based materials and Neste's
expertise in renewable solutions. The companies aim
to produce plastics and other materials that are used
today, but instead replacing virgin fossil feedstock with in the Ningxia Hui Autonomous Region. The facility
renewable or recycled waste and residue raw materials. will focus on highly-differentiated applications and
The companies will work with a number of partners in the segments through polymers derivatives. Highlighting
supply chain. Partners are provided with an opportunity Sabic’s intent on developing collaboration with
to address the growing market for bio-based products production sectors in China, the company’s vice
while utilizing their existing production assets."We are chairman and CEO, Yousef Al-Benyan, said, “More
very pleased to form a partnership with IKEA , together broadly, we look to further Sabic’s investment in
with partners, we can enable the production of bio-based the Chinese economy and our strategic engagement
plastics that are produced from waste and residues of the with key participants in the Chinese petrochemicals
customers' preference and choice. We are proud to work industry.” The cooperation between the parties with
with IKEA on the initiative", says Tuomas Hyyryläinen, SVP, respect to the coal-to-chemicals project contributes
Strategy and New Ventures at Neste. Lena Pripp-Kovac, to the Chinese government’s Belt & Road Initiative,
Sustainability Manager, at IKEA of Sweden said,"IKEA wants expanding the economic ties and bilateral trade
to contribute to a transformational change in the industry between Saudi Arabia and China. The project
and to the development of plastics made from recycled or would benefit from Sabic’s participation through
renewable sources. In line with our goals, we are moving the utilisation of Sabic’s advanced technologies.
away from virgin fossil-based plastic materials in favor The project would also have access to Sabic’s
of plastic produced from more sustainable recycled or global technology & innovation centres for product
renewable sources such as waste and residues, not using development, and technical support and application
palm oil and it's derivatives as feedstock.” development programs. The project would also
bene?t from the participation of SNCG, which is an
af?liate of Shenhua Group, one of the largest coal
producers and suppliers in China, as well as a global
coal-based, integrated energy and chemicals company.
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