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ALBA Group Asia, a provider of waste management and recycling solutions in the region, and VietCycle, a nationally established waste collection and plastics recycling company in Vietnam, announced last Wednesday the launch of a cooperation to jointly develop the largest plastics recycling plant for food-grade PET/HDPE in Vietnam.
"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 cooperation with our partners from VietCycle, we are taking a significant step in this direction. Every year, Vietnam discharges about 3 million tonnes of plastic waste on land and an estimated 0.28 to 0.73 million tonnes of plastics waste into the ocean. Across 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.
Together with VietCycle, we want to tackle this challenge: The investment sum for the planned plant will be up to 50 million US dollars. We are aiming for a capacity of up to 48,000 tonnes per year. The first phase of operation is expected to start in 2024/2025. The project will use modern technologies to produce food-grade PET/HDPE following international standards set by the EU.
Through this partnership, VietCycle's network can grow and offer a significantly larger number of informal waste collectors an upgrade of their work, which is so important for Vietnam. Gender equality and social inclusion in the collection system and in the plastic recycling sector are among the key objectives of the partnership. Hoang Duc Vuong, Chairman of VietCycle Joint Stock Company, who I hold in high esteem, said: "Working with ALBA Group Asia helps us realise our dream of recycling plastic waste based on advanced technology, contributing to sustainability and humanity,” commented Dr Axel Schweitzer, shareholder and chairman of Interzero.
