Petro Rabigh says 3 MoUs on factories in Rabigh PlusTech Park expire in December 2023

Logo of Rabigh Refining and Petrochemical Co. (Petro Rabigh)

Rabigh Refining and Petrochemical Co. (Petro Rabigh) said that the three memoranda of understanding (MoUs) signed with investors to establish manufacturing factories in the Rabigh PlusTech Park are set to expire on Dec. 31, 2023, according to a statement to Tadawul.

The signing of the MoUs will not have a financial impact, the statement said. 

There are no related parties.

The company signed, on Dec. 13, MoUs with investors to establish manufacturing factories in the Rabigh PlusTech Park. An MoU was concluded with Pure Life Industries Middle East Co. to produce 80,000 water filters and flat ceramic membranes yearly. The second was signed with Saudi Top Co. to produce 50,000 tons per annum (tpa) of recycled polymer compounds.

The third MoU was inked with Green Community Co. to produce 100,000 tpa of recycled plastic resin for food applications.