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Saudi Energy Ministry and Saudi Basic Industries Corporation (SABIC) sign MoU to develop renewable energy projects in the kingdom.
The CEO of SABIC Yousef Al-Benyan said that this will enable to achieve net-zero emissions of the company by 2060. The company plans to expand its manufacturing by investing in renewable energy and reducing greenhouse gases.
SABIC is a public company based in Riyadh, Saudi Arabia. 70% of the company’s shares are owned by Saudi Aramco, with the remaining 30% publicly traded on the Saudi stock exchange.
These all initiatives are a part of the Saudi Green Initiative of the company. Under Circular Carbon Economy, reducing carbon emissions is focused while pursuing economic strategies.