7 NEWS PETplanet Insider Vol. 26 IFC partners with Mohinani Group to drive PET recycling and manufacturing in West Africa IFC, a member of the World Bank Group, announced a partnership with Ghana-based manufacturer Mohinani Group Limited to undertake the recycling of PET from plastic waste in Ghana and Nigeria, helping to protect the environment and creating thousands of jobs in both countries. Under the partnership, IFC will provide a loan of US$37 million to help Mohinani Group subsidiaries Polytank Ghana Limi ted and Sonnex Packaging Nigeria Limited to establish PET recycling plants in Ghana and Nigeria. Each plant will have the capacity to produce 15,000 t/a of recycled PET (rPET) resins that wi l l substitute virgin PET resins used to make food grade and beverage packaging containers. 90 per cent of the raw ma t er i a l s wi l l be sour ced from local smal l businesses involved in plastic collection. Combined, the new plants are expected to create more than 4,000 direct and indirect jobs across the value chain and approximately US$21 million in annual savings from imports for each country. “The rPET project by the Mohinani Group was born out of a vision to close the bottleto-bottle recycling loop in Africa and the Group’s dedication to advancing environmental sustainability,” said Roshan Mohinani, Strategy and Transformation Manager for Mohinani. “It is also inspired by our Group’s purpose of improving the quality of lives in Africa, as this initiative is expected to create over 4,000 jobs along the value chain in Nigeria and Ghana, thereby providing economic empowerment to a significant number of young people, particularly women.” “IFC’s partnership with Mohinani underscores our dedication to promote environmental sustainability and economic development in Ghana and Nigeria,” said Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa. “By recycling up to 30,000 t/a of PET waste, these new plants will protect the environment and substitute imports with locally recycled materials.” IFC will also provide advisory services to strengthen Mohinani’s environmental and social practices and its capacity for efficient and sustainable PET recycling operations. The project aligns with IFC’s strategies for Ghana and Nigeria which are focused on mitigating climate change, creating jobs and transforming the economy. It is also consistent with the World Bank Group’s Climate Change Action Plan 2021-2025, which aims to reduce the use of virgin plastic resins and greenhouse gas emissions in the packaging materials value chain. www.ifc.org CREATING FUTURE STANDARDS Japan’s leading Aseptic PET Filling System Provider. Our website Our solution high quality reliable technology safe & secure
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