Two Egyptian companies on Monday signed a contract for the construction of a polyethylene terephthalate (PET) recycling plant.

Nile Recycling Company and Egypt’s Main Development Company (MDC) signed the agreement for the $20 million plant with an output capacity of 22,000 tonnes a year.

The plant, which will be completed in the first half of 2025, is based in Sokhna Industrial zone, which is governed by the Suez Canal Economic Zone.

The facility will be constructed on an area of around 12,000 sq metres and is expected to slash carbon emissions by 40,000 tonnes per year.

Al-Ahram news website said the plant’s products would be used in the manufacture of plastic bottles and other products for the local and foreign markets.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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