Turkish industrial packaging firm HIPER Plastic has signed a $40 million contract with Egypt’s Suez Canal Economic Zone (SCZONE) to establish a plastic recycling facility, the first recycling project in SCZONE’s West Qantara Industrial Zone.
The agreement was signed by SCZONE Chairman Waleid Gamaleldine and HIPER Plastic Chairman Muhlis Çağlar during a SCZONE investment roadshow in Turkey aimed at strengthening industrial cooperation. The project will be implemented in two phases over a total area of 1,00,000 sq m, creating 700 direct jobs.
The new recycling facility will focus on zero-emissions by using advanced technology for recycling processes. The plant will recycle polyethylene terephthalate (PET) and plastic packaging materials, in addition to sorting, crushing, washing, and specialised production of new PET, polypropylene (DOTP), and high-density polyethylene (HDPE).
The investment is part of a larger effort by SCZONE to attract industrial companies. So far, West Qantara Industrial Zone has succeeded in attracting 41 projects, including industrial, services, and logistics, with a total investment of nearly $1 billion, and providing 56,565 direct job opportunities.
