UK-based Polar Hydro plans to build $2.4 bln recycling plant in Egypt

The facility will process and safely recycle solid household waste to produce biofuel and fertilizers.

The output will supply the domestic market, with surplus quantities set to be exported to several European countries.

The project will also help support job creation and contribute to increasing annual exports, as it falls within five priority sectors through which Egypt aims to boost its exports.

Egypt targets a 20 percent annual increase in its exports through 2030, as outlined in the country’s new economic narrative in five priority sectors.

These sectors are tourism, manufacturing, agriculture, energy, and information and communication technology.

These developments were announced during a meeting held by Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel Al-Wazir with company representatives while presiding over the 35th meeting of the Ministerial Group for Industrial Development.

According to the statement, a meeting will be held—on a date yet to be disclosed—between the Egyptian officials and representatives of the British company to expedite final preparations for a feasibility study to be presented at a coming meeting with a ministerial group.