Sigma Capital

11-11-2024

Nile Recycling Company & MDC to establish $20M PET project in SCZone

Source: MIST

Business Today-


Nile Recycling Company and the industrial developer Main Development Company (MDC) signed an agreement for recycling Polyethylene Terephthalate (PET) in the integrated industrial zone of Sokhna, part of the Suez Canal Economic Zone (SCZone).

The project aims to recycle PET bottles and convert them into recycled food-grade rPET. It will span an area of 12,000 square meters and involve initial investments of $20 million, providing 500 job opportunities.

This was in the presence of Chairman of the SCZone, Walid Gamal El-Din.

The production is expected to commence in the first half of 2025, targeting a recycling capacity of 22,000 tons annually. This will contribute to reducing carbon emissions by 40,000 tons per year.

The recycled plastic will be used in manufacturing packaging materials such as plastic bottles and food containers, with plans for export.

El-Din highlighted that the SCZone has made significant strides towards transitioning to a green economy.

He also pointed out the numerous investment opportunities in the green fuel sector and its complementary industries, including products that rely on green fuel during the manufacturing process, as well as the activity of supplying ships with green fuel.

The Nile Recycling project aligns with the Authority’s clear strategy to promote sustainability and support the green economy through recycling initiatives.