We are pleased to announce an important step toward the establishment of a plastic upcycling facility in Turkey. In September 2024, Üstay and Doğ-Yap JV, in partnership with Honeywell (UOP), have officially signed a non-binding Memorandum of Understanding (MoU) and term sheet. This MoU marks the primary step towards the finalization of the Engineering, Procurement, and Installation (EPC) contract with an open-book cost estimate for the facility.
The collaboration will focus on the engineering, procurement, construction, and commissioning of this new facility, utilizing technology developed by Honeywell (UOP). The facility aims to advance plastic recycling and upcycling technologies not only in Turkey but globally.
This agreement represents another milestone in Üstay’s commitment to sustainable energy development. This initiative aligns with our broader sustainability vision, which includes a focus on reducing environmental impact, fostering renewable energy projects, and continuously seeking ways to contribute to the global transition toward a greener, more resilient future.
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