Plastipak’s Battle to Recycle Plastic Waste Gets Big EBRD Funding Boost

SEATTLE (Scrap Monster): The European Bank for Reconstruction and Development (EBRD) recently approved a loan of 65 million Moroccan dirhams (approximately €5.9 million) to plastic packaging manufacturer Plastipak, which will help the company to diversify its activities in the region.

The loan from EBRD will be utilized towards setting up of a plant to recycle polypropylene into plastic pallets and crates. Also, the company will focus on transforming its Sidi Bouathmane facility to renewable energy, which in turn will significantly reduce the carbon footprints.

The recycling plant is expected to result in considerable reduction of plastic pollution in the country. According to rough estimates provided by the Moroccan authorities, the country produces more than 1 million tonnes of plastic every year, out of which nearly one-third is dumped into landfills.

The funding will also expand Plastipak’s operations into manufacturing of pharmaceutical products packaging. The development plan proposed by the company demands overall financing of more than 9.7 million euros.