CURRENT AFFAIRS

Detailed explanation-1: -SABIC plans to build a chemical plant in Spain fully powered by renewable energy in what is the first project of its kind anywhere in the world.

Detailed explanation-2: -SABIC reports that its polycarbonate facility in Cartagena, Spain, is set to become the world’s first large-scale chemical production site to be run entirely on renewable power.

Detailed explanation-3: -New Delhi: SABIC’s polycarbonate facility in Spain is set to become the world’s first large scale chemical production plant which will run entirely on renewable power after a major agreement was signed with Iberdrola, an electricity utility company.

Detailed explanation-4: -The polycarbonate facility of SABIC in Spain is all set to become the world’s 1st large scale chemical plant to will run entirely on renewable energy.

Detailed explanation-5: -Ranked among the world’s largest petrochemicals manufacturers, 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.