The italiann bank issues 5 million euros for recycling plastics

Cittadella, February 17, 2020 

 

In the context of its three-year plan in circular economy investments, the Sirmax Group has obtained funding for 5 million Euros by Intesa Sanpaolo for the building renovation and production expansion of the SER plant in Salsomaggiore Terme, Italy.

 

The funding, which was agreed with Intesa Sanpaolo, has been put towards the Circular Economy ceiling, and has become an integral part of the aims for the financial plan for the actualization of Sirmax Group's investment program in the three-year period between 2019 and 2021. The investment plan aims to renovate the Salsomaggiore site, expanding the current building and increasing the plant's power for the recycling of plastics. This will be done by purchasing new selection and washing lines, as well as new extruders which will increase productive capacity by 70%. Significant funds have also been allocated for the new R&D Center, both for the labs and for pilot plants. The total investment in this site, which will make it one of the best and most innovative sites at international level, is estimated at around 12 million Euros. The investment will be made in two phases, one coinciding with the Single Environmental Authorization (Autorizzazione Unica Ambientale, AUA1), which will be officially inaugurated on March 25, and the other will coincide with the second Single Environmental Authorization (Autorizzazione Unica Ambientale, AUA2), which will be implemented from the end of 2020.

 

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