about us | newsletter | contact | archive | members area
Bogdan Nitulescu, Tremend
Cryptocurrencies volatility is a big problem»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

GreenFiber invests 35 million Euro in its third plant for synthetic recycled fibres

GreenFiber International, part of Green Group, the largest integrated recycling park in South-Eastern Europe, announced in mid-September an investment of 35 million Euro from private funds, in its third production plant for synthetic fibres made out of 100 per cent recycled PET, to become the biggest European producer on this segment, according to a press release issued to The Diplomat – Bucharest.

2016-10-21 21:53:02 - From the Print Edition

With a total production capacity of 30,000 tonnes/year of synthetics, the new plant will be located in Urziceni, following the buying of Rofep property. The new plant is estimated to be operational in the first quarter of 2017. Furthermore, the company is planning a new investment to double the Urziceni capacity by 2018. Adding also Buzau and Iasi, the national production capacity of GreenFiber will be 113,000 tonnes/year in the final stage of development.
The new Urziceni plant will have continuous activity throughout the year, organized in two shifts, creating new jobs for Urziceni residents and those from neighbour cities. At the end of the project, the total number of GreenFiber employees in Romania will exceed 1,000.
"While the demand from our clients for regenerated fibres was rising, such investment was made possible only following last year's important boost of the operations in the upstream supply chain," stated Clement Hung, CEO of Green Group companies, according to the release. "In 2013 – 2015, we invested 23 million Euro, part of which was to create a functional collection infrastructure in Romania and grow the clean PET collection volumes, while the other was to increase the operational capacities for the lines processing PET bottles prior to reaching our GreenFiber factories."
Within the production process in GreenFiber, PET flakes resulted from the sorting, crushing and washing of PET bottles, are melted into thin threads and transformed into synthetic fibres, an output resembling natural wool. For the new production sites to work at full capacity, 162,000 tonnes/year of PET bottles will have to be processed, which is more than the total amount of PET put annually on the Romanian market.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5741 Views
Daily Info
CE Oltenia denies media allegations, says it has no state debts

State-owned company CE Oltenia denies the allegations in the local media, according to which it has debts to the state budget worth over 100 million Euro, a press release show...

Valentin Radu receives new mandate as chair of Electrica's board of directors

Electrica's board of directors decided to appoint Valentin Radu as chair of the board of directors for a mandate of one year, starting with 12 December 2018.

Christmas leads to material implications for retail and office market players, says Colliers

December is a time for Romania to score positive results for sales at supermarkets, hypermarkets or discounters as well as for gifts, offering generous returns for retailers i...

Revolut gets European banking license

Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has final...

Belgian WDP signs lease agreement with Auchan for 77,000 sqm of logistics space

WDP has signed an agreement for the development and lease of 77,000 sqmof logistics warehouse space at its existing site at Bucharest for retailer Auchan. The investment budge...

 
 
   
advertising

advertising

advertising

More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...

Fondul Proprietatea expresses disappointment over Engie listing rejection

Fondul Proprietatea is disappointed with the decision taken by the majority shareholder of Engie SA, Romania Gas Holding B.V., to oppose the listing of the company, accordi...

Europe must become a producer of new technologies, not just a consumer of technologies, says EC

Europe must become a producer of new technologies, not just a consumer of technologies, said Gerard de Graaf, Director for the Digital Single Market in Directorate-General ...

Catrina, MCSI: Romania is ready to roll up its sleeves and work during the presidency of the EU Council

Romania is ready to roll up its sleeves and work during the presidency of the Council of the European Union (EU), said Maria Manuela Catrina, State Secretary at the Ministr...

Two billion youth risk of being left behind in the Fourth Industrial Revolution workforce, says Deloitte

Almost two billion youth worldwide risk of being left behind in the Fourth Industrial Revolution (Industry 4.0) workforce, which is changing at an increasingly rapid pace a...

ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.