/Zen will invest $ 200 million in plastic raw material operations by 2030
Zen will invest $ 200 million in plastic raw material operations by 2030

Zen will invest $ 200 million in plastic raw material operations by 2030

The company plans to increase its market share in Israel, which currently stands at 70%, and is investing in the development of biodegradable biopolymers

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The refineries in Haifa Remy Three

    A refinery company (Bazen), managed by Malachi Alper, plans to invest $ 240-170 million in the activities of the polymers (raw materials for the plastics industry), and especially in the field of recycled and biodegradable polymers, by 2030 Zen estimates that the investment will yield it an additional cash flow operating profit (Ebitda) of $ 70-55 million per year, compared to the current level of $ 250 million in January-September 2021. The polymer sector is concentrated in the subsidiary Carmel Olefins (CA), and the polypropylene market, which is estimated Today at 80 million tons, it is expected to grow by 80% by 2040. The polyethylene market, which is currently estimated at 25 million tons, is expected to grow by 50% by 2040. The US will invest in three growth engines: strengthening its position in the polymer market. .

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