November 13, 2024 – Egypt Takes a Bold Step Towards Sustainability with $20 Million PET Recycling Facility
In a groundbreaking collaboration, the Nile River Recycling Company and the Master Development Company (MDC), an industrial developer, have recently signed an agreement to build a $20 million polyethylene terephthalate (PET) recycling facility within the Sokhna Integrated Industrial Zone in the Suez Canal Economic Zone (SCZone). This ambitious project, spanning an impressive 12,000 square meters, is anticipated to generate 500 valuable job opportunities for the local community.
The construction of this PET recycling facility marks another significant milestone in Egypt’s journey towards sustainability. According to AsiaMB, the facility is expected to be completed and commence operations in the first half of 2025, with a targeted annual recycling capacity of 22,000 tons. This substantial recycling effort is projected to reduce carbon emissions by up to 40,000 tons annually, contributing positively to environmental protection and climate change mitigation. The recycled PET products will find widespread applications in the production of plastic bottles and other related products, both domestically and internationally, thereby fostering the growth of the circular economy.
The initiation of the Nile River Recycling Project underscores the expertise of the Nile River Recycling Company in the field of environmental protection. It also showcases Egypt’s unwavering commitment to promoting sustainable development and supporting a green economy through recycling initiatives. As the project progresses, it is poised to inject new vitality into the environmental protection efforts in Egypt and globally, setting a new benchmark for the plastic recycling industry.
This partnership represents a win-win situation, not only for the environment but also for the economy, as it creates jobs and drives innovation in the recycling sector. With the implementation of this project, Egypt is demonstrating its leadership in advancing sustainable practices and inspiring other nations to follow suit.