Egypt: SCZone, Nile Plastic Recycling seal deal for new PET recycling facility in Sokhna Industrial Zone
With an additional investment of $15 million (EGP 742 million), the project will cover an area of 10,000 square meters and provide about 500 direct job opportunities.
Its annual production capacity will stand at 20,000 tons of processed plastic waste, with 70% of the production allocated for export to foreign markets. Only 30% of production will be directed to meet the needs of the local market.
This supports the state's objectives to increase industrial exports and enhance the added value of Egyptian recycled products.
It is worth noting that PET is a key raw material used in food-grade plastic bottles.
Waleid Gamal El-Dien, the Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), emphasized that this expansion reflects the authority's commitment to supporting the green economy and promoting sustainability.
Gamal El-Dien said the recycling projects mark a fundamental pillar in the efforts to transition to a clean, low-emission industry, contributing to lowering resource loss, creating job opportunities, and enhancing the global competitiveness of Egyptian products.
The Nile Plastic Recycling project inked the first contract in November 2024 to establish a factory on an area of 12,000 square meters to recycle polyethylene terephthalate (PET) bottles into recycled materials (rPET) suitable for food use, with initial investment amounted to $20 million, providing 500 jobs.
The first phase is expected to commence operations in the first half (H1) of 2026.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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