UK: 1 Billion Dollar Investment One of the World’s Lowest Carbon-Emitting Crackers in Progress
Sabic has plans to invest a whopping 1.37 billion dollars at the Teesside facility in the UK in order to decarbonize the plant. The investment includes strengthening the operations at the facility and enabling its chemical cracker transformation, thus leading to the development of one of the world’s lowest carbon-emitting crackers.
London/UK – The UK Government has revealed that the Saudi-based petrochemical major Saudi Basic Industries Corp (Sabic) has plans to invest almost 1.37 billion dollars at the Teesside facility in northeast England with an aim to decarbonize the plant.
In a recent tweet, the British Prime Minister Boris Johnson said, "Fantastic to see nearly £1 billion invested in @Sabic's Teesside facility, creating and safeguarding 1,000 jobs. It's a huge vote of confidence in the UK's chemicals and processing industry, which is pioneering innovation in clean, green technology.”
According to news reports, Sabic has mentioned that the investment will include strengthening operations at Teesside and enabling its chemical cracker transformation. This will reduce its carbon footprint by up to 60 % in phase one, making it one of the world’s lowest carbon-emitting crackers.
The move is in line with the UK Government’s recently announced net zero strategy for the country.