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MCC and ENEOS Corporation jointly established Kashima Complex LLP in 2019. Through this partnership, the companies are working toward the commercialization of the chemical recycling of plastic waste. Specifically, the two companies are constructing a plastic-to-oil conversion facility at MCC’s Ibaraki Plant. The facility will commence operation in 2023 with an annual processing capacity of 20,000 tons, the largest of its kind in Japan. The conversion process at the facility will be carried out with supercritical water treatment technology from U.K.-based Mura Technology Limited. The recycled oil produced will be used as a raw material in existing oil refineries and naphtha crackers owned by ENEOS and MCC. It will be converted to petroleum products, chemicals and various plastic products, and, in this way, the two companies aim to realize highly efficient chemical recycling. In addition, the procurement of raw material plastic waste will be carried out in collaboration with Refinverse, Inc., with which MCC formed a capital and business alliance in August 2020.