Polysmart unveils $60m plant to recycle 15m bottles daily

Polysmart Packaging Limited has unveiled an impressive $60 million recycling facility in Nigeria, capable of processing up to 15 million plastic bottles daily. The state-of-the-art plant, which will handle 100,000 tonnes of mixed plastics annually at full capacity, is projected to recycle approximately 6.5 billion PET bottles each year.

This equates to about 15 million bottles being recycled every day, preventing them from being buried, burned, or polluting the Atlantic Ocean. Speaking at the facility's official opening, Polysmart's CEO, Wasiu Balogun, highlighted the significance of this investment, marking a notable step in the company's journey from a small enterprise in 2013 to a leading force in Nigeria's recycling industry.

Balogun recalled the company's humble beginnings with an initial capital of just N2 million, emphasizing how the $60 million plant underscores their dedication to tackling Nigeria's plastic waste crisis through large-scale recycling. At full operation, the facility will efficiently sort, wash, and decontaminate the collected plastics, converting them into food-grade recycled PET.

This purified material is then used to manufacture new bottles, effectively closing the loop and reducing the demand for crude oil and energy required to produce new plastic. Also at the event, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, emphasized the need for stricter environmental regulations and a unified national approach to waste management to combat the escalating issue of plastic pollution.

He praised Polysmart's commitment to recycling infrastructure, affirming their contribution to environmental sustainability and industrial growth. Polysmart's Chairman, Niyi Yusuf, described the $60 million investment as a testament to confidence in Nigeria's industrial capabilities. He added that the facility, touted as Africa's largest food-grade recycled PET plant, would bolster Nigeria's standing in the recycling sector and position the country as a potential recycling hub for West Africa.