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Tuesday, 8 December 2020

Also on our radar on 8 December 2020

Raya’s BariQ will establish Egypt’s largest plastic recycling facility in Sixth of October after securing financing from Coca-Cola, Bariq CEO Osama Zaki said, according to Al Mal. The plant will sort 10 tonnes of plastic an hour when running at full capacity, which Zaki says would be the highest rate in the world. Coca-Cola, which considers the project a part of its CSR mandate, will finance most of the project. BariQ, which is 99% owned by Raya Holding, recycles polyethylene terephthalate, a common polymer used for food packaging and drinks bottles. Raya is currently looking to offload its stake in BariQ to an unnamed foreign investor.

A couple more of those please, Mr. Cola: The soft drinks giant has been named the world’s biggest plastic polluter by environmental group BreakFree From Plastic, which accuses it of making “zero progress” on cutting its plastic waste, the Guardian reports.

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