Suez: The Suez Canal Economic Zone (SCZone) has announced the expansion of the Nile Plastic Recycling Company's project in Ain Sokhna. This expansion involves an additional $15 million investment to establish a new polyethylene terephthalate (PET) recycling facility.

According to State Information Service Egypt, the new investment, equivalent to approximately EGP 742 million, will fund a 10,000-square-metre facility dedicated to processing PET, which is a key raw material used in the production of food-grade plastic bottles. This expansion is anticipated to create 500 direct job opportunities and is expected to handle 20,000 tons of processed plastic waste annually.

The project has a strategy to export 70 percent of its output while allocating the remaining 30 percent to the local market. This aligns with Egypt's industrial export strategy and its efforts to enhance the value of domestically recycled products. The Nile Plastic Recycling Company was initially launched in November 2024 with an initial capital of $20 million. Their first facility, spanning 12,000 square metres, is projected to start operations in the first half of 2026.

SCZone Chairman Walid Gamal El-Din praised the company's progress in its first phase, stating that the expansion signifies growing investor confidence in the SCZone's industrial environment. He emphasized that this move aligns with the zone's green economy strategy and Egypt's broader initiatives toward sustainable, low-emission industries. 'We continue to attract quality investments in the circular economy and green transformation,' Gamal El-Din noted, emphasizing that recycling projects are a core component of this transition.

The signing ceremony, held in the New Administrative Capital, was attended by senior SCZone officials and company representatives.