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Alba Group Asia and VietCycle, a waste collection and plastics recycling company in Vietnam, have signed a cooperation agreement. The two companies want to build the largest recycling plant for the production of food-grade PET/HDPE.
At the signing of the cooperation agreement in the capital Hanoi, senior representatives of the Vietnamese government and the German embassy emphasised the Contribution of the project to one of the most urgent environmental problems in the countryAccording to the World Bank, Vietnam is one of the biggest polluters of the world's oceans. Around 3 million tonnes of plastic waste is discharged onto land in Vietnam every year and an estimated 0.28 to 0.73 million tonnes of plastic waste is discharged into the ocean. Throughout Vietnam, local governments are struggling to collect, transport, treat and dispose of their growing waste streams. Rapid urbanisation combined with increasing economic and population growth will further increase the volume of waste.
Alba Group Asia and VietCycle want to tackle this challenge with their partnership: The investment sum for the planned plant will be up to 50 million US dollars. The aim is to Capacity of up to 48,000 tonnes per year. The first operating phase is expected to begin in 2024/2025. The project will Modern technologies for the production of food-safe PET/HDPE that follow the international standards set by the EU.
„Our vision is a world without waste. At the same time, with our holistic approach and through the use of digitalisation, we want to contribute to sustainably improving the living and working conditions of collectors. With this project and the collaboration with our partners at VietCycle, we are taking a significant step in this direction. We are combining our expertise in global circular management and plastics recycling with the VietCycle team's knowledge of the local collection network. The project will be part of the much-needed solution to Vietnam's growing plastic waste problem. It will also create a significant number of „green“ sustainable jobs and improve the social situation of many people. For me personally, this is at least as important as the environmental benefits and economic success.“
Dr Axel Schweitzer, Chairman of the Advisory Board of Interzero Holding and Chairman and shareholder of Alba Group Asia
The partnership will allow VietCycle's network to grow and reach a significantly larger audience. The number of informal waste collectors should be upgraded for their work, which is so important for Vietnam. Gender equality and social inclusion in the collection system and the plastics recycling sector are among the partnership's most important goals.
„The cooperation with Alba Group Asia helps us to realise our dream of recycling plastic waste based on advanced technology and thus contribute to sustainability and humanity.“
Hoang Duc Vuong, Chairman of VietCycle Joint Stock Company
In addition to the promising partnership and the significant Contribution to combating climate change in Vietnam the expansion of the network will Alba Group Asia and VietCycle will make it possible to reach many of today's still very disadvantaged collectors and improve their lives by offering training and social security benefits. To this end, the Alba Berlin Academy Asia, which emerged from the Berlin basketball club and is already active in ten countries, is also to be integrated in order to combine existing offers with its school, sports and training programme.
Source: Interzero
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