The agreement was signed by Major General Walid Youssef,
MDC's Managing Director, and Shady Magdy El-Tantawy, Chairman, and Mohamed
Saber El-Saadany, Executive Director and Managing Director, of Nile Plastic
Recycling Company.
The $15 million (742 million Egyptian pounds) expansion will
fund an annex for recycling polyethylene terephthalate (PET), the primary raw
material used in food-grade plastic packaging.
The expansion will see the establishment of an annex
dedicated to recycling PET, the primary raw material for food-grade plastic
containers. This new facility, spanning 10,000 square meters, is expected to
create around 500 direct jobs and boast a production capacity of 20,000 tonnes
of treated plastic waste annually.
Approximately 70% of the new project's output will be
earmarked for export, with the remaining 30% catering to domestic market demand.
This aligns with Egypt's drive to boost industrial exports and enhance the
added value of recycled Egyptian products. This phase is slated to commence
operations after the completion of the first phase.
Gamal El-Din emphasized that the expansion reflects SCZONE's
commitment to its strategy of supporting the green economy and promoting
sustainability. He highlighted that recycling projects are a cornerstone of
efforts to transition towards a clean, low-emission industry, contributing to
resource conservation, job creation, and boosting the global competitiveness of
Egyptian products.
He added that SCZONE continues to attract quality
investments that support Egypt's circular economy drive, praising Nile Plastic
Recycling's success in the first phase, which encouraged this new expansion.
Nile Plastic Recycling's initial project in the Sokhna Industrial Zone began in November 2024 with a $20 million investment over 12,000 square meters. That plant, expected to start operations in the first half of 2026, focuses on recycling PET bottles into food-grade recycled PET (rPET) and also created 500 jobs. The new expansion builds on the success of this initial phase, reflecting growing confidence in SCZONE's investment environment.