US firm wants to build plant to make eco-friendly alternatives to plastics
Our first eco-friendly plastic alternatives factory? US environmental safety firm Okeanos and local infrastructure agent Income Egypt unveiled a proposal to build a local plastics alternatives factory in a meeting with Prime Minister Moustafa Madbouly yesterday, according to a cabinet statement. The factory, which would produce environmentally-friendly alternatives to single-use plastics (think shopping bags, straws and food packaging), is being styled as the first of its kind in Egypt.
Send us the deets: The companies will be drafting a more detailed proposal under directives from PM Madbouly before they move forward, clarifying the proposed timeline, and the land and value of investments needed.
The project comes as Egypt looks to burnish its sustainability credentials ahead of this year’s COP27 climate summit in Sharm El Sheikh. Projects are slated in a myriad of environmentally-friendly sectors, including green hydrogen, seawater desalination, and clean transport.
Correction: 15 February 2022
A previous version of this article misidentified Okeanos as Okyanus Group, a Turkish construction company.