GreenLife Tech Corp. was incorporated on January 15th, 2021. GreenLife Tech Corp. has signed a five-year contract with Hi Technological Plastic Industries LLC (HTPI) based in UAE and purchased a plastic recycling technology and machines. HTPI also agreed to buy all finished goods from GreenLife Tech Corp. for the next five years.

The business outlook for GreenLife Tech is very positive, as the plastic industry is making a significant contribution to the economic development and growth of various key sectors, such: Automotive, Irrigation and farming projects, Landscaping and horticulture projects, Construction, Electronics, Healthcare, Textiles, and FMCG etc.

Demand for building materials, including for polymer pipes, follows the momentum of the construction and infrastructure sector. With the increasing investments in these due to the run up to the Dubai Expo 2020, the demand for polymer pipes is expected to continue to demonstrate robustness and sustainability. For this purpose, over 6 billion EUR is expected to be invested in infrastructure-related projects, with 277,000 new jobs being created, while the total windfall from private and government investments is expected to be in excess of 20 billion EUR.