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Egypt is to establish waste recycling plants in the Suez Canal Economic Zone (SCZone). The contract pertaining to this was signed by three prominent Egyptian companies with the Egyptian Environmental Affairs Agency (EEAA). These companies are El Nasr for Fertilizers and Chemical Industries, Flex P Films, and Huhtamaki Egypt. They are securing financing for the construction of solid and liquid waste recycling facilities in the Suez Canal Economic Zone (SCZone) in Egypt.
Egypt is to establish waste recycling plants in the Suez Canal Economic Zone (SCZone). The contract pertaining to this was signed by three prominent Egyptian companies with the Egyptian Environmental Affairs Agency (EEAA). These companies are El Nasr for Fertilizers and Chemical Industries, Flex P Films, and Huhtamaki Egypt. They are securing financing for the construction of solid and liquid waste recycling facilities in the SCZone.
The SCZone is making progress in implementing its sustainability policy. The companies have signed US$21.64 million financing agreements with the Egyptian Environmental Affairs Agency (EEAA) for the construction of waste recycling plants. The signing of these agreements is the first component of the cooperation protocol between the Egyptian Ministry of Environment and the General Authority for the SCZone.
The EEAA will finance these companies under the third phase of the Egyptian Pollution Abatement Programme (EPAP). 11.8 million to finance the SCZone wastewater treatment plant project. The future plant, whose overall cost is estimated at €13.57 million, will handle industrial wastewater in order to reduce pollution.
Funding from the EEAA will support the implementation of the polyethylene terephthalate (PET) plastic recycling project in the SCZone. The plastic can be recycled into secondary materials, packaging, and electricity. The entire project will require an investment of 16.07 million euros.
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The US$148 million EPAP programme also aims to improve the performance of Egyptian industry, and their compliance with environmental laws and regulations, as well as reduce their energy and resource consumption in order to promote sustainable development. It is financed through loans from the European Union (EU), the European Investment Bank (EIB), the French Development Agency (AFD), and Kreditanstalt für Wiederaufbau (KfW), the German development agency.
