ADDIS ABABA – Kubik, a US based environmental technology company, has agreed to build a waste plastic recycling plant inside Adama industrial park.
The company, Kubik Ethiopia, signed a Memorandum of Understanding with Industrial Parks Development Corporation (IPDC) to rent shades for its recycling plant on Thursday.
The recycling plant will manufacture low-cost and low-carbon building materials using 10,000 tons of waste plastics annually, IPDC officials said.
Sandokan Debebe, IDPC’s CEO, said the manufacturing plant will have multiple benefits, and brings more diversity to the manufacturing products of Adama industrial Park.
Apart from supporting efforts to mitigate environmental pollution, the CEO said it will supply inputs to the growing construction sector.
The production will also contribute to the government’s plan to build 4.4 million houses in the next ten years, he added.
The CEO pledged to provide the necessary support for the company’s new venture and future expansion plans, urging its officials to begin manufacturing as soon as possible.
Kids Asfaw, Chief executive Officer of Kubik Ethiopia, has welcomed the support that the government extended to the company.
The necessary investment will soon be made to start recycling and produce the materials, he added.
The investment, apart from reducing at least 125,000mt carbon emissions annually, will eventually supply affordable construction materials for the growing real-estate sector.
It will also create at least 10,000 direct and indirect job opportunities, according to Kubik Ethiopia.