Raya Holding for Financial Investments has disclosed it decision to invest more than EGP 250m in BariQ, the bottle-to-bottle manufacturer of recycled polyethylene terephthalate (PET) plastic, targeted at doubling the capacity and productivity through the launch of new production lines for the factory, to modernise the infrastructure, and provide training programmes to the workers.
The process of recycling used plastic from consumable products is an efficient way to reprocess the material into useful products. Several different products are recyclable materials, including plastic packaging, soda, and water bottles.
“The factory, which started its production in 2012, has a total investment of EGP 150m till our present day,” said Osama Zaki, the chairperson and managing director of BariQ.
Osama Zaki, explained that BariQ’s capacity is up to 150,000 tonnes of PET pellets per year, it recycles plastic bottles which come from the rubbish.
According to him, “we still have an issue with the collection of bottles. We only take 50% from the local market because of the high prices which are offered by local wastes collectors, which makes us import the remaining 50% from abroad.”
The recycling industries have recently boomed with many investments around the world. The EU recycles a quarter of the 25-26m tonnes of plastics waste which it produces per year, and about half of what was sent to China, which uses recycled plastics in order to make products, ranging from office furniture to cable coatings.