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INVESTMENT WATCH-
Tetra Pak + Union Paper Mills to recycle carton packages in UAE: Swiss food packaging and processing firm Tetra Pak and UAE’s Union Paper Mills (UPM) will jointly invest AED 2.5 mn to establish a recycling line for carton packages in the UAE, according to a statement released on Thursday.
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About the facility: The line will have the capacity to process up to 10k tons of used carton packaging material annually. Using Tetra Pak’s tech, the facility will extract paper fibers from aluminum and polymer waste to create raw materials for the packaging and plastics industries. The recycled raw materials, called PolyAl, can also have further applications in construction, furniture, molding and 3D printing.
GREEN HYDROGEN-
Saudi Aramco + Gulf Cryo partner on low-carbon hydrogen: Saudi Aramco signed a collaboration agreement with Gulf Cryo to test and evaluate low-carbon hydrogen and carbon capture and utilization technologies at the Aramco-led King Salman Energy Park (Spark), AlArabiya reported last week. Gulf Cryo will conduct the preliminary and pre-commercialization evaluation of Aramco’s facilities and techs in the park, which is slated for operational launch by the end of 2025.
About Spark: Spark is a megaproject in the Eastern Province that aims to be a regional industrial and sustainable energy hub in the region. Earlier in September, SPARK announced it had successfully attracted over 60 investors, with current investment amounts exceeding USD 3 bn, reports AlArabiya.
MINING-
Oman awards mining license for copper, chrome-rich zones: Oman’s Energy and Minerals Ministry has granted AlTamman Indsil Ferrochrome (ATIFC) a mining concession for chrome and copper-rich Area 22-D in North Al Sharqiyah Governorate, according to a statement published last week.
More details: The concession agreement grants ATIFC mining and exploration rights over an area of 790 sqkm rich in copper and chrome. The agreement would require the company to conduct an intensive exploratory program in the first two years of concession, using topographic, geochemical, and geophysical research, remote sensing, and detailed geological mapping. The company will also be allowed to conduct an intensive drilling program of up to 250 exploratory drill holes. No timeline or investment ticket was disclosed.
About ATIFC: ATIFC is a JV between Oman’s Muscat Overseas Group and India’s Indsil Group that was originally established to tap into the sultanate’s chrome ore reserves with extraction and processing activities. Key products currently offered by the company include Ferrochrome (FeCr) and Silicomanganese (SiMn). The company has a production facility based at Sohar Free Zone that boasts climate-friendly practices, such as zero-water waste, renewable energy use, and byproducts recycling.
DIPLOMACY-
Morocco + Hungary partner on sustainable development: Morocco’s Energy Transition and Sustainable Development Ministry signed an MoU with Hungary’s Foreign Affairs and Trade Ministry to cooperate on sustainable development and environment conservation, according to a statement published last week. The partnership would cover collaboration on areas, including combatting climate change, energy transition, sustainable development governance, waste management, and biodiversity conservation.
