Moroccan plastic packaging manufacturer Plastikpack Maroc will obtain financing for the construction of a plant to recycle polypropylene into pallets and crates. It is 65 million Moroccan dirhams (about €5.9 million) recently approved by the European Bank for Reconstruction and Development (EBRD).
Good news for Plastikpack in Morocco. The plastic packaging manufacturer based in Sidi Bou Othmane, in the Marrakech-Safi region, will benefit from 65 million Moroccan dirhams (about €5.9 million) in financing to diversify its activities in the Kingdom. The loan was validated on 22 November 2022 by the European Bank for Reconstruction and Development (EBRD).
With this financing, the Moroccan company will set up a plant to recycle polypropylene (a plastic material produced from petroleum, editor’s note) into plastic pallets and crates, “in accordance with Breeam standards (Building Research Establishment Environmental Assessment Method) and increase working capital,” the EBRD said. This is a standard that assesses energy and water consumption, health and well-being, pollution, transport, materials, waste, ecology and management processes.
The future plant will contribute to the reduction of plastic pollution in Morocco. The Cherifian kingdom produces more than one million tonnes of plastic each year, of which more than 33% is dumped in uncontrolled landfills, according to Moroccan authorities. “We will monitor the environmental and social performance of the project and the implementation of the Environmental and Social Action Plan (ESAP) by reviewing the annual environmental and social reports (AESR) and conducting site visits if necessary,” the EBRD says.
Reducing its carbon footprint
The recycling project will benefit from an investment grant provided under the High Impact Climate Action Partnership (HIPCA). The grant will fund the purchase of more advanced materials and technologies in the design of Plastikpack Maroc’s recycling plant in order to improve its energy performance and achieve green building certification (Breeam with at least a “Good” rating).
Plastikpack Maroc also plans to transform its Sidi Bouathmane unit by focusing on renewable energy. With more than 8,000 m² of solar panels installed, the company will substitute a large part of its energy consumption with greener energy, thus reducing its carbon footprint by 1,253 tonnes per year.
The new EBRD funding will also support Plastikpack Maroc in its expansion, particularly in the manufacture of packaging for pharmaceutical products. The company’s development plan will require an overall financing of 107.6 billion Moroccan dirhams, more than 9.7 billion euros.