The EBRD is providing the investment alongside Global Finance’s South East Europe Fund, which is contributing EUR16.7m to Green Group’s equity.
Green Group is a newly created holding company, set up by Romcarbon, a plastic and chemical production company listed on the Bucharest Stock Exchange, to manage, operate and expand its existing recycling services.
The new recycling park will comprise four companies collecting and recycling plastic, electric and electronic waste, as well as fluorescent lamps.
The project will introduce a nationwide infrastructure for collecting recycling material this will connect the end consumer with the recycler via special reverse vending machines placed in large supermarkets to recover recyclable items including plastic bottles, lamps, batteries and packaging glass.
The project, which is the first equity transaction in the recycling sector in Romania, will support Green Group’s strategy to become a leading recycling park in the south-eastern European region.
EBRD director for Romania Claudia Pendred said Green Group will demonstrate the viability of recycling in the region, will set higher environmental standards and will help Romania increase its waste collection and recycling quotas in line with EU requirements.
