MOROCCO – Moroccan plastic packaging manufacturer Plastikpack Maroc has secured a US$6.22 million loan from EBRD to boost its operations in Morocco.
With this financing, the Moroccan company will set up a plant to recycle polypropylene into plastic pallets and crates, “in accordance with Breeam standards (Building Research Establishment Environmental Assessment Method) and increase working capital,” the EBRD said.
This is a standard that assesses energy and water consumption, health and well-being, pollution, transport, materials, waste, ecology and management processes.
The future plant will contribute to the reduction of plastic pollution in Morocco. According to Moroccan authorities, the Cherifian kingdom produces more than one million tonnes of plastic each year, of which more than 33% is dumped in uncontrolled landfills.
“We will monitor the environmental and social performance of the project and the implementation of the Environmental and Social Action Plan (ESAP) by reviewing the annual environmental and social reports (AESR) and conducting site visits, if necessary,” the EBRD says.
The recycling project will also benefit from an investment grant provided under the High Impact Climate Action Partnership (HIPCA).
The grant will fund the purchase of more advanced materials and technologies in the design of Plastikpack Maroc’s recycling plant to improve its energy performance and achieve green building certification (Breeam with at least a “Good” rating).
Plastikpack Maroc also plans to transform its Sidi Bouathmane unit by focusing on renewable energy.
With more than 8,000 m² of solar panels installed, the company will substitute a large part of its energy consumption with greener energy, thus reducing its carbon footprint by 1,253 tonnes per year.
The new EBRD funding will also support Plastikpack Maroc in its expansion, particularly in the manufacture of packaging for pharmaceutical products.
The company’s development plan will require an overall financing of 107.6 billion Moroccan dirhams, more than US$ 10.22 billion.
This comes at a time when recycling in the North African country is gaining momentum both in the public and private sectors.
In July this year, environmental startup Mogagreen, launched an initiative to reduce the amount of recyclable waste that ends up in landfills in Essaouira city, Morocco.
The initiative is currently engaged in an awareness-raising campaign to gain support. They have a multi-channel approach and a significant public awareness campaign.
As part of the Mogagreen project, at least 20,000 households, 300 businesses and 20 schools in Essaouira will be able to dispose of their waste at the click of a button.