R4.6 million in funding to be awarded to 12 collectors of post-consumer polyolefin.
The names of the 12 collectors of post-consumer polyolefin waste that will be receiving a total of R4.6 million in grants and interest-free loans were announced by POLYCO, the Polyolefin Recycling Company (NPC).
As part of POLYCO’s mandate to promote and grow the collection and recycling of post-consumer PP, HDPE, LDPE and LLDPE packaging materials, as is required in terms of the Packaging Industry’s obligations to the South African Government under extended producer responsibility, the company issued a call for proposals in April 2015 to collectors who were interested in partnering with them.
“We received a total of 38 applicants from all over South Africa, of which 16 were shortlisted and finally 12 successful applicants were approved by the POLYCO board,” says Mandy Naudé, CEO of POLYCO. The result is that POLYCO will invest R3.75 million as interest-free loans and R850 000 as grants to 12 post-consumer polyolefin collection companies.
“Providing funding support to these companies and helping them to optimise their supply chains will allow us to unlock approximately 27 500 tonnes of new polyolefin plastics for recycling over the next three years – putting us ahead of our five-year plan”, Mandy says.
The majority of the collectors who had applied to POLYCO for funding in this cycle required new machinery and equipment that would allow them to make maximum use of their available space and move materials more effectively through the process, whilst minimising their logistics costs.
“We are currently going through the detailed evaluation process of the short-listed mechanical recyclers and will be announcing the names of the successful applicants to receive funding support at the end of November,” Mandy concludes. “We have set ourselves the goal of growing polyolefin recycling in South Africa by a further 300 000 tonnes over the next five years. We believe it is achievable through forming partnerships with recyclers and collectors who share our vision and passion for the industry.”