Polyco to release investment loans for recycling projects in South Africa

POLYCO's second Request for Proposals was made in July 2014, where it invited recycling companies to submit proposals for funding that would be used to grow their recycling production volumes and have a direct impact on the sustainable growth of the polyolefin plastics recycling industry. According to Mandy Naudé, Chief Executive Officer of POLYCO, these funds will increase the recycling capacity of plastics bearing the polymer identification codes 2,4 and 5 by almost 8 000 tons per annum or 24 000 tons  in the three year cycle.

A major positive for POLYCO, is that this capacity growth is directly linked to an increase in recycled tonnes, as the loans are guaranteed against the applicants’ projected volume growth. A total of 19 applications for the second round of funding for the 2014 cycle were received. Of these, the six most suitable applications were chosen based on their business plans, financial stability and ability to guarantee waste source to deliver their projected growth.

Most of the applications received were for funding that would address bottle-necking or production constraints in recycling plants, while others were also looking at upgrading their wash plant facilities as this would improve the cleanliness and quality of their products.  Investments in new extrusion, granulation and shredding equipment also featured prominently on the applicants’ business plans, according to Naudé.

The successful applicants are: Myplas, a Western Cape based recycler that will upgrade its wash plant and extruders; Italian Plastic Technologies, a recycler of difficult to recycle waste that has been in operation for over 17 years and aims to improved its shredding and washing facilities; Mountain View Plastics, a recycler that bought an existing business and targets to upgrade its old equipment; Polymark Recycling, a recycling facility is in the North West Province and has been operational for the past 20 years; EMET, which aims to use POLYCO’s grant to automate and optimise operations, as well as introduce more energy efficient equipment; and Moiware t/a Coastal Recycling which plans to start up again and rebuild their business gutted by fire early in 2014.