Photo courtesy of Egypt's cabinet
The 714-acre facility will treat waste from districts and villages in Giza that could reach at least 5,000 tons per day, process 30 million tons of accumulated waste and convert it to high-value export products such as biofuel, fertilizers and industrial graphite, according to a Ministry of Environment statement on Wednesday.
Polar Hydro is a private engineering and technology firm, specializing in scientific research, engineering studies and experimental development on natural sciences.
Furthermore, Polar Hydro will also be responsible for re-establishing the waste disposal sites and landfill in Shubramant, operating it as a special economic zone, as well as developing a plan to operating the Kerdasa and Mariouteya intermediate waste transfer stations.
The agreement aims to improve Egypt’s waste management system, recycle solid waste before its safe disposal or benefitting from it in the form of other products and implement the new integrates solid waste management system, according to Minister of Local Development and Acting Minister of Environment Manal Awad.
This will also provide an economic resource for the country to enhance sustainable development, create 52,000 direct and indirect job opportunities
Egypt has been bolstering its efforts to support green transition and green economy projects while enhancing partnerships with the private sector, as per the economic Economic Development Narrative.
The narrative addresses industrial development, local and foreign investments, foreign trade, green transition, the non-banking financial sector, and labour market efficiency. It aims for the private sector to contribute 72 per cent of total investment by 2030, with annual foreign direct investment (FDI) targeted at $24.6 billion and total exports of $145 billion.
The $4.2 billion projects builds on Polar Hydro’s declared intent last month to invest $2.4 billion to establish a large-scale recycling plant in Egypt’s Giza Free Zone, to process and safely recycle solid household waste to produce biofuel and fertilizers.
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