GCC can play key role in advancing circular economy: experts
Dr Abdulwahab Al-Sadoun
The Gulf Cooperation Council (GCC) countries can play a key role in advancing the circular economy thanks to their established position as a global plastics production and export hub, access to world-class infrastructure and focus on research and innovation, experts said.
However, the formulation of Public Private Partnerships (PPPs), government incentives and regulations will be essential to drive meaningful impact on plastic waste management and circularity.
Speaking at the 14th Gulf Petrochemicals and Chemicals Association (GPCA) Plastics Conference at the JW Marriott Hotel, Riyadh, Saudi Arabia, industry leaders agreed that innovation and collaboration will be crucial to foster economies of scale and advance sustainability, while enabling industry growth.
Delivering the welcome remarks on Day 1 (April 20), Khalfan Al-Muhairi, SVP Regional MEAE, Borouge and Vice-Chairman, Plastics Committee, GPCA, commented: 'As we look toward the future, one thing is abundantly clear: the journey ahead cannot be undertaken alone. It demands a collective, unwavering commitment from all of us — from industry leaders to policymakers, from innovators to our communities and youth. Together, we must align our ambitions, mobilize our resources, and take decisive action to address the challenges and opportunities that lie before us.'
Deena F. Al-Khayyal, Managing Director, LyondellBasell (LYB), delivered a keynote address on the future of plastics and impact of key trends and disruptions on the regional industry. Her speech explored the evolving landscape of the plastic industry and ways in which increasing regulatory pressures and shifting consumer demands are influencing the sector.
A leadership dialogue, moderated by Steve Jenkins, Vice President, Chemicals Consulting, Wood Mackenzie, featuring Khalid Al Dawood, Managing Director, NATPET; Unmesh Nayak, President – Polymer Chain, Reliance Industries; and Dr Apostolos Krallis, VP, Innovation Centre, Borouge, delved into the financial dimensions of transitioning to sustainable and circular plastics. The conference continued with sessions on investment in plastics ecosystems, turning plastic waste into high-impact solutions, the future of plastics circularity and a series of valuable case studies.
Dr Abdulwahab Al-Sadoun, Secretary General, GPCA, commented: 'Driving meaningful solutions to plastic waste management is no longer a choice; it's an urgent necessity. A comprehensive approach will require government incentives and regulations that foster investment while providing clarity and confidence to investors and technology providers. Advanced recycling technologies, such as chemical recycling, are poised to play a vital role in this transition.'
He added: 'To unlock new opportunities, scaling up investment in advanced recycling infrastructure is imperative. Key actions include promoting Public Private Partnerships (PPPs), establishing regional standards, and fostering economies of scale. Supporting innovation and nurturing circular economy startups will also be critical to developing smart and sustainable solutions that can transform the future of plastic waste management.'
The 14th GPCA Plastics Conference, which concludes today (April 21), featured an opening address by Naser Aldousari, CEO, EQUATE Group and Chairman – Plastics Committee, GPCA.
During the conference, GPCA released a new report in collaboration with the King Abdullah Petroleum Studies and Research Center (KAPSARC), titled 'Advancing Plastic Waste Recycling in the GCC: Policies, Technologies, and Economic Opportunities.' The report provides an in-depth examination of the state of plastic waste recycling in the GCC and serves as a vital resource for stakeholders aiming to improve plastic waste management practices and policies in the region. –
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
a day ago
- Gulf Today
elegant hoopoe Spotlights GCC Franchise Investment with Strategic Expansion
DUBAI, UAE – Esteemed weight loss and aesthetics clinic, elegant hoopoe, today announced a pivotal strategic move into franchising across the Gulf Cooperation Council (GCC), with a pronounced emphasis on the dynamic UAE market. This initiative is strategically designed to elevate the brand's social proof and capture heightened investor interest in its continued growth narrative. Mr. Shahriar Shahir Barzegar, the Founder and CEO of elegant hoopoe, has successfully guided the Dubai-based company to its current position of operational strength. With three flourishing branches already serving a discerning clientele, the brand has validated its business model and demonstrated significant market appeal for its specialized, high-end services. Further underscoring its expansionary vision, elegant hoopoe is advancing with plans for new clinic inaugurations in two key UAE locales: Abu Dhabi and Damac Hills. These developments are crucial components of the company's strategy to enhance the accessibility of its signature client experience, which harmoniously blends a welcoming ambiance with elegant and aspirational service delivery. "Our strategic entry into franchising is a transformative step for elegant hoopoe," remarked Mr. Shahriar Shahir Barzegar. "We have meticulously engineered a scalable and successful operational blueprint that consistently delivers superior client results within a sophisticated clinic setting. We are now inviting forward-thinking investors and partners who resonate with our vision to introduce elegant hoopoe's acclaimed services to a wider audience across the GCC. This is more than expansion; it's about cementing a leadership position as a credible and sought-after brand in the wellness and aesthetics landscape." The long-range strategy for elegant hoopoe is focused on achieving significant market presence and brand recognition throughout the GCC. Central to this is a franchise model developed to provide robust support to partners, offering a transparent and effective framework for operational success and investor value. elegant hoopoe is committed to empowering its franchisees with the comprehensive tools and in-depth knowledge necessary to consistently deliver its high service standards. This targeted franchising program is poised to attract investors and strategic allies eager to collaborate with a progressive brand dedicated to making meaningful contributions to personal wellbeing and aesthetic enhancement. elegant hoopoe remains firmly dedicated to principles of sustainable growth, unwavering brand integrity, and the delivery of exceptional value to its clients and franchise network. About elegant hoopoe: elegant hoopoe is a leading clinic in weight loss and aesthetics, headquartered in Dubai, UAE. Founded by Mr. Shahriar Shahir Barzegar, the clinic offers a curated selection of specialized services, enabling clients to achieve their wellness and aesthetic goals within a uniquely welcoming, elegant, and aspirational setting. With a steadfast commitment to innovation and client-centric care, elegant hoopoe is strategically positioned for significant growth and market leadership across the GCC. Discover more at .
Zawya
2 days ago
- Zawya
XRG board endorses five-year plan to accelerate global growth and deliver long-term value
RELATED TOPICS ENERGY RELATED COMPANIES Blackstone DE Prometheus CBUAE DOF Abu Dhabi ADNOC Metatron Apps Borouge Covestro Osaka Gas Co Abu Dhabi Dev. Directs XRG to build a top five integrated global gas and LNG business with 20–25 mtpa capacity by 2035 Supports assessment of upstream gas M&A and LNG expansion opportunities to strengthen North American gas position Board mandates creation of top three global chemicals platform anchored by Borouge Group International and Covestro XRG strategy includes investments in AI-linked power demand, energy infrastructure, and select low-carbon growth Abu Dhabi, UAE – June 3 2025: The Board of Directors of XRG, the international energy investment platform launched by ADNOC in November 2024, today endorsed the company's five-year business plan for 2025–2030, reaffirming its commitment to accelerated growth and long-term value creation. In its first six months, XRG has established itself as a differentiated global energy investor with an enterprise value exceeding $80 billion. The Board endorsed the plan to scale XRG's three core platforms – International Gas, Global Chemicals, and Energy Solutions. His Excellency Dr. Sultan Ahmed Al Jaber, Executive Chairman of XRG and Managing Director and Group CEO of ADNOC, said: 'As we enter a new era shaped by artificial intelligence, digital infrastructure, and industrial growth, energy systems must evolve in both scale and sophistication. XRG is investing in the energy systems of the future – more integrated, more resilient, and responsive to global demand. With the Board's endorsement of our five-year business plan, we are scaling platforms in gas, chemicals, and energy solutions to drive long-term value and ensure energy remains a catalyst for sustainable growth and development.' The Board directed XRG to build a top five integrated global gas and liquefied natural gas (LNG) business, targeting 20–25 million tons per annum of capacity by 2035 and supported the assessment of potential upstream gas M&A and LNG opportunities to strengthen its North American gas position. This follows recent acquisitions and partnerships in the United States (Rio Grande LNG), Mozambique (Area 4 Rovuma Basin), Egypt (Arcius Energy), Azerbaijan (Absheron), and Turkmenistan (Offshore Block I), enabling XRG to meet rising global demand for flexible, lower-carbon energy. The Board also endorsed the company's ambition to create a top three global chemicals platform. Subject to respective regulatory approvals, the proposed formation of Borouge Group International and the proposed acquisition of Covestro anchors an industry leading portfolio across polyolefins, performance materials, and future specialty segments. Recognizing the exponential growth in AI-linked power demand, particularly in the United States, the Board directed XRG through its Energy Solutions platform to expand its investments across the energy value chain while continuing to develop select opportunities in carbon capture and storage and low-carbon fuels such as biofuels and low-carbon hydrogen that align with attractive return profiles. XRG will execute on its 2025–2030 business plan immediately, with continued focus on disciplined capital deployment, platform integration, and value chain expansion to support global industrial growth and the ongoing digital transformation. Board Composition Dr. Sultan Ahmed Al Jaber Executive Chairman Background: UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO. Dr. Al Jaber has over 25years' experience spanning the energy, industrial, investments, infrastructure, sustainability and advanced technology sectors and has been instrumental in helping to advance the UAE's energy diversification. Mohamed Hassan Alsuwaidi Board Member Background: UAE Minister of Investment and Managing Director and CEO of ADQ. Alsuwaidi brings extensive investment experience across multiple sectors, including utilities, metals and mining, infrastructure, technology, and agriculture. Dr. Ahmed Mubarak Al Mazrouei Board Member Background: Chairman of the President's Office for Strategic Affairs and Chairman of the Abu Dhabi Executive Office, Dr Al Mazrouei is a pivotal figure in the UAE's financial and economic governance. Jassem Al Zaabi Board Member Background: Chairman of the Abu Dhabi Department of Finance, Chairman of the Board of e& and Vice Chairman of the UAE Central Bank. Al Zaabi's expertise spans finance, investment, technology, real estate and infrastructure. Jon Gray Board Member Background: President & Chief Operating Officer of Blackstone. Mr. Gray is a globally recognized investor and long-serving leader at the largest alternative asset management firm. With more than $1T in AUM, Blackstone invests broadly across private equity, real estate, infrastructure, energy, secondaries, credit & insurance. Nassef Sawiris Board Member Background: Executive Chair of OCI Global. Mr. Sawiris is a globally recognized investor and business leader with decades of experience in steering businesses across sectors including investment, commodities, construction, and infrastructure. Bernard Looney Board Member Background: Chairman of Prometheus Hyperscale and former CEO of bp. Mr. Looney brings vast expertise across the global energy supply chain as well as investing in traditional and renewable energies. About XRG: XRG is a transformative international energy investment company, focused on natural gas, chemicals and scalable energy solutions to help power AI and industry globally. Headquartered in Abu Dhabi and wholly owned by ADNOC, XRG has an enterprise value of over $80 billion. XRG's portfolio includes operating and non-operating interests in industry-leading companies that are meeting the rapidly increasing global demand for energy and the chemicals that are essential to enable sustainable economic growth.
Zawya
2 days ago
- Zawya
Benin's Minister of Energy, Water and Mines to Speak at African Energy Week (AEW) 2025 Amid Exploration, Energy Trade Surge
Kingnidé Paulin Akponna, Minister of Energy, Water and Mines of Benin, has confirmed his participation as a speaker at African Energy Week (AEW): Invest in African Energies 2025, taking place from September 29 to October 3 in Cape Town. His attendance comes as Benin's upstream sector gains renewed traction, supported by drilling campaigns, a robust pipeline network and major public-private partnerships aimed at revitalizing both hydrocarbon and renewable energy development. Minister Akponna will join key stakeholders to showcase Benin's strategic positioning in West Africa's energy landscape, highlight investment opportunities and engage in high-level dialogue to advance cross-border cooperation and infrastructure development. As a country seeking to strengthen its energy independence and regional trade integration, Benin has made substantial progress across the oil, gas and renewable sectors. From offshore oilfield development to critical trade finance programs, and from the commissioning of new solar capacity to the operationalization of the Niger-Benin Export Pipeline, Benin is emerging as a competitive and forward-looking energy market. Minister Akponna's presence at AEW: Invest in African Energies 2025 will underscore Benin's renewed commitment to unlocking its hydrocarbon potential, diversifying its energy mix and forging stronger investment partnerships with global stakeholders. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Benin's energy resurgence is marked by a series of recent milestones. In February 2025, Niger confirmed the export of over 14 million barrels of oil through the Niger-Benin Export Pipeline, operated by the China National Petroleum Corporation. This $4.6 billion infrastructure investment has become critical not only to Niger's debt repayments but also to Benin's strategic growth as a regional transit hub. Exports from the pipeline resumed in August 2024 following diplomatic agreements, reaffirming the pipeline's importance for regional stability, energy security and trade. In December 2023, offshore oil developer Akkrake Petroleum signed a production sharing contract for a 76% operated interest in the shallow-water Sèmè Field, situated in Benin's offshore Block 1. With historical production of 22 million barrels, the field is now well-positioned for revitalization through a modern production system that includes a jack-up mobile production unit and floating storage. A vertical exploration and appraisal well is planned for mid-2025, and if successful, will be converted into a producer, followed by horizontal drilling in 2026. This marks the return of significant drilling activity in Benin's offshore blocks and supported the country's ambition to unlock untapped hydrocarbon reserves. Meanwhile, Benin continues to position itself as a solar development hotspot. With a goal of reaching 150 MW by 2026 and 300 MW by 2030, the country is ramping up renewable deployment. A major step forward was the commissioning of the second phase of the Illoulofin solar PV plant in 2024, a 25 MW project delivered through a public-private partnership with Japan's Toyota Tsusho and the Société Béninoise de Production d'Électricité. Representing the first large-scale Japanese-led renewable project in West Africa, the plant demonstrates the country's openness to international clean energy investment and lays the groundwork for future collaboration. 'Benin represents one of West Africa's most promising frontiers for upstream development midstream integration and clean energy diversification. By accelerating projects across the oil, gas and renewable energy industries, the country is reaffirming its position as both an attractive market to invest as well as a regional trade hub,' stated Tomás Gerbasio, VP of Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
